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What Is My Vehicle Worth?

How Much Cash Can I Get With A Classic Car Title Loan?

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Know Your Vehicle's Value Before Applying For A Title Loan

It goes with saying that all assets decrease in value over a certain amount of time. This happens most often with cars, because of wear and tear and new vehicle models that come out each year. Therefore, it’s essential to ensure you know your vehicle's value before applying for a title loan. In the best-case scenario, your car has low miles and is a newer model. But there are still options to get cash for older vehicles as long as they still hold value. Not only that, but some classic vehicles actually go up in value as they become collectible and more rare.

Anyone can use a free and clear pink slip as collateral  to get an online title loan. You first need to determine your creditworthiness and if you have the ability to repay the loan. Next, an online lender will want to see the value of your classic car or truck. Several factors, such as the vehicle's age and mileage will affect the car’s resale value. Keeping all that in mind will help calculate your car's approximate equity value.

 

What Is The Resale Title Loan Value Of An Older Vehicle

There are various types of cars on the market and your car's make and model will be taken into consideration when determining the loan amount and repayment term.A typical newer car will show lesser demand than vintage, classic cars, sporting vehicles, and other unique cars. When looking at a car title loan, the vehicle's Bluebook value is most important. Much as you would if you buy or lease a car, you need to know the details and history of any vehicle. This amount determines how much the finance lender will give when a borrower hands over their car as collateral. Let's discuss different factors that determine what a car is worth.

 

High Mileage Title Loans

A car can have high mileage and a good amount of use. But is it in bad condition with a low resale value? It may be much higher, thus lowering the value and money you get with a car title loan. We see cars approved for online title loans with high mileage all the time. But these vehicles are often newer models and still in good shape. On the flip side, there are many examples of low mileage cars that have a low value because they're not worth much or they're in bad shape. Ultimately the ideal vehicles for value are those that are newer with relatively low mileage and kept in great shape. These cars work great as collateral for a secured loan, and some customers can qualify for a title loan without the title in hand

 

Older vehicles that qualify for title loans

 

Depreciation & Car Title Loans For Older Cars

Depreciation is a major factor affecting a car’s resale value. The older your vehicle is the more you'll see a lower value. Now, this doesn't always apply to classic vehicles as some of these cars have huge followings and can be worth far more than they were just a few years ago. Apply for a title loan near me to see the value and condition of your vehicle and in some cases you can find out if your vehicle qualifies as a "classic car". Most car title loan companies will let you know the amount you can get before you sign off and hand over the pink slip.

 

Appearance & Condition Of An Older Vehicle With Title Loans

One thing a car owner tends to ignore is the brand name and the color of the car. Certain brands will always be preferred over others. Expensive brands are in demand and thus increase the resale value. Vehicle colors also play a significant role in deciding the demand and value of the car. Some colors, like black and white, are preferred when looking at the auto's value.

All online equity lender will use some a vehicle valuation service to come up with a quote and lending terms and it helps to know how title loans work and what types of vehicles will qualify. A car in good condition, which is tested and certified, along with having all the documents available, will always be sold at a higher price. Do your homework before you go with a company that offers car title loans. Odds are you would do the same with any payday loan company or cash advance service. Same with most installment loan services and those are unsecured loans! If you plan on handing over your car's title as collateral for a loan, it pays to know your vehicle history!

Call Car Title Loans 123 at 844-567-5011 or apply online to cash out equity from any type of classic vehicle. Loan amounts on a few classic cars can reach $20,000 and best of all you can keep driving the vehicle while the loan is being paid each month.

 

*INTEREST OF 36 PERCENT PER YEAR PLUS THE CURRENT FEDERAL FUNDS RATE. TITLE LOANS HAVE ANNUAL PERCENTAGE RATES THAT START AT 3% A MONTH AND GO UP FROM THERE. APPROVAL IS BASED ON AND SUBJECT TO THE APPLICANT SATISFYING THE CREDIT REQUIREMENTS IN PLACE BY TITLE LENDERS. SOME LENDERS MAY REQUIRE APPROPRIATE COLLATERAL, SUCH AS THE VEHICLE’S PINK SLIP.


THE SPECIFIC LENDING AMOUNT, PAYOFF TERM, AND APR OF A TITLE LOAN THAT THE APPLICANT QUALIFIES FOR WILL VARY BASED ON EACH UNIQUE SITUATION. ANY PERSONAL LOAN SHOULD BE INTENDED FOR FINANCIAL EMERGENCIES OR TO MEET REAL-TIME PERSONAL OR BUSINESS NEEDS. THE MINIMUM AMOUNT OFFERED WITH A TITLE LOAN ONLINE IS CURRENTLY $2,501. ALL APPLICANTS WILL NEED TO SHOW AN ABILITY TO MAKE ON-TIME MONTHLY PAYMENTS AND ULTIMATELY PAY BACK THE LOAN. BORROWERS ARE URGED TO MAKE EXTRA OR EARLY PAYMENTS AS A WAY TO PAY OFF A TITLE LOAN EARLY AND AVOID EXTRA INTEREST RATE CHARGES. SEE CHART BELOW SHOWING EXAMPLE RATES AND PAYMENT TERMS.

Annual Percentage Rate Finance Amount Amount Financed Min Payment Monthly Payment Total Months
34.89% $1012.80 $2511.00 $143.95 $3474.80 22 minimum
34.37% $2043.05 $2520.00 $102.02 $4436.88 42 maximum

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