Can I Get A Title Loan On An Old Car?

If you’re asking, “Can I get a title loan?” you’ll be happy to know that Nevada Title and Payday Loans, Inc. provides vehicle-owning customers with a potential avenue for emergency cash. This is done by offering title loan services at the many store locations found in Nevada. With local locations, customers can get their hands on fast cash through a Nevada title loan. 

You may be wondering whether your car would be eligible for a loan. Questions such as "Can I get a title loan on an old car?" start to be a point of panic for anyone unfamiliar with the title loan process. Don't let the panic set in, though, as you will find your answer below, along with other commonly asked questions regarding vehicle eligibility.

How Can I Obtain A Title Loan On An Old Car?

When Should I Get A Title Loan?

A title loan can provide a temporary financial bridge for those who need cash fast, making it even more important that potential customers understand what makes a vehicle ineligible. The last mistake anyone will want to make is eliminating access to funds due to a misconception or misunderstanding, especially when those funds are needed to address an emergency.

Factors you think would disqualify you may not, while other factors you otherwise wouldn't consider do. Keep reading to discover what matters most when using your vehicle to get title cash.

Can I Get A Title Loan On An Old Car?

A significant concern for many vehicle owners seeking this loan is whether their vehicle is too old to use. But did you know that the average time a car is in someone's ownership or use is approximately 12 years? People are keeping their vehicles longer than ever, and why not?

Modern technology has benefited consumers by providing longer-lasting vehicles. With longer vehicle lifespans and easier maintenance, why buy a new one when the one you have still works? Ultimately, it doesn't matter if it is an old vehicle if it works and can pass an inspection. If so, then it is eligible.

Does My Old Car Still Have Value?

An old vehicle doesn't mean it isn't any good or has little value. Some classic cars are worth more today than when they were made. Some classic vehicles even run smoother than modern cars, depending on how the owner maintained them. How much your specific vehicle will be valued will depend on several factors and does not focus solely on the car's age.

Can I Get A Title Loan If The Vehicle Has Multiple Owners?

To get straight to the point, no, the vehicle would not be eligible to be used for a loan. A vehicle may have multiple owners if:

• Ownership is shared with a spouse or family member.
• The vehicle still needs to be paid in full, giving your automobile lender rights to the car.

The car is ineligible if the vehicle in question has a lien against it. However, if ownership is shared with a spouse or family member, a title loan may still be possible if the co-owner agrees to the loan. The co-owner would then accompany the applicant in completing the application and signing the paperwork with them. Or, the co-owner can transfer full ownership to the applicant before pursuing a title loan.

Can I Get A Title Loan If The Car Needs Repair Work?

Yes, depending on the repair work required, you can still get a loan if the car needs repair. As mentioned earlier, the value of your vehicle will depend on several factors. One factor is if the car needs repairs and how much those repairs would cost. If the repair is an extensive and expensive one, then the value of the vehicle may decrease or may not qualify for a loan. 

Find Out If Your Vehicle Is Eligible And Learn How Much You Qualify For

Nevada Title and Payday Loans, Inc. can get you the answer you need without wasting your entire day. You can find out from our trusted professional if your vehicle is eligible after a quick and free inspection.

If you choose to complete the application and are approved, emergency cash will be made readily available to you that same day or the following business day. Our title loan process is quick and can take as little as 30 minutes! Even better, our ccustomers can also get upwards of $15,000.

Find Out Today If You Can Get Approved!

Don’t let your concerns about your car’s age prevent you from getting the quick and easy cash you need. You can find out today if you can get approved with Nevada Title and Payday Loans, Inc., so why wait? It is easy to get started!

You can start by filling out our online inquiry form. After that, you’ll be connected with a local loan representative from your nearest Nevada Title and Payday Loans, Inc. location. If you’re searching for emergency money, you can use your old car to get a title loan today! Complete our online inquiry form! We’re here to help.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.