Can You Get a Loan on a Branded Title?
Yes, if the vehicle is rebuilt.
If you’re hunting for branded title vehicle financing, you should know a few things about the technicalities of a branded title before they proceed. A branded title vehicle is a vehicle that has been in an insurance incident. For one reason or another, the insurance company marked the car up as “not worth the cost of repairs” — even though many of these vehicles are actually worth repairing.
While most of these cars end up in the junkyard, some have been unfairly marked due to technicalities relevant only to the internal protocol of the insurance agency. When a vehicle’s title is branded, it’s called a “salvage title” and vehicles still in their salvage state aren’t legally drivable on the streets — this true whether you live in Salt Lake City, Denver, CO, or anywhere else in the country. You’d be hard-pressed to find anyone willing to provide you a loan for a car that isn’t street-legal or insurable.
Where Can You Get a Loan on a Branded Title?
As we said, it isn’t easy to get branded title financing for a salvage title vehicle — unless it’s been repaired first. If you do find a lender, you’ll need excellent credit for them to take on a high-risk loan for an uninsurable car. If you’re looking for financing for a salvage title vehicle that hasn’t yet been repaired, you should also be prepared to accept a high interest rate, regardless of your credit score.
To prepare for a bank loan, we recommend you do everything you can to prove that you’re a low-risk borrower. Bring a copy of a clean driving record issued by a mechanic and an overview of your credit history. But does it really have to be this hard?
No. That’s where AutoSavvy comes in. We restore high-potential salvage title cars, have them pass a rigorous inspection, and get them to pass inspection, and have their titles re-branded as “rebuilt title vehicles.” We’re happy to offer you rebuilt title financing for any of the restored branded title vehicles on our lot, each of which still offer you exceptional savings.
Reach Out to AutoSavvy for Branded Title Financing
Now that you know that you can get a loan on a branded title if you opt for rebuilt title financing, it’s time to explore the massive inventory available throughout the AutoSavvy family of dealerships. With locations throughout the country, we’re in reach if you’re looking for your next vehicle. If you have any other questions about branded title financing or rebuilt title financing, don’t hesitate to reach out.
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