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Salvage Car Title Loans In Los Angeles

By Jenny Williee | March 29 2019

If you are going short of money to cover emergency expenses or pay off your outstanding bills, one of the best options that you can go for is via a title loan. What then, is a title loan? Is it the only option for vehicles with clean titles or can you also apply for and get Salvage Car Title Loans in Los Angeles?

It is crucial for you to understand how title loan works as this will go a long way in helping you work out whether or not it is the right option for you. Not all situations can be taken care of if you take out a title loan.

Read on to find out more about the process of title loans and if or how you can obtain one when your vehicle has a salvage title.

Title Loans: The Basics

Two categories of title loans exist:

#1: Unsecured title loans – these have no collateral and are solely backed by the personal guarantee of the borrower. 

#2: Secured title loans – This involves a piece or two of a property that belongs to the borrower and stands as collateral. The lender can repossess this property if the borrower defaults on payment.

Title loans are usually secured by your vehicle, but in most cases, you will still be able to keep and drive your vehicle while you are still repaying the loan. Title loan lending firms will only have the car title in their possession during the period you are trying to repay the loan. As soon as you pay off the loan entirely, they will relinquish the car title to you.

A minimum of 18 years of age is set by the federal government for any person who desires to procure a title loan. This implies that most title loan lenders will confirm your age on your government-issued ID before you will be allowed to apply for the loan.

Car Title Loans California

Besides that, the laws that govern title loans are set by state levels, meaning your state will determine the following:

  • The maximum interest rate that a lending firm can charge
  • Maximum and minimum title loan term duration
  • What happens when borrowers default and the lending firm moves to reclaim your vehicle
  • The maximum and minimum title loan amount

Many states do not set any limits as regards title loans. This means that you will have to carry out some research to find out the laws that apply to your state. You can obtain this information by applying online.

How A Salvage Car Title Loan Works

The most important factor that will be considered when you apply for a car title loan is the value of your vehicle. The cost of your car will determine whether or not you will be approved for the loan as well as the amount you are approved for. How much money you can borrow also depends on the title loan limit set by the state where you reside if it has one.

  • The lender or lending firm works out the value of your vehicle as follows:
  • The lending firm will make use of a car value guide to research your vehicle by entering the year, model, make, style, and estimated mileage. They can do this by visiting the Kelley Blue Book website.
  • The lending firm will inspect your vehicle to find out whether or not it is in good, fair or great condition
  • The lending firm will make use of the information in the guide as well as the results obtained from the inspection to establish a current market value for your vehicle.

Take note that the lending firm will never provide or offer the full amount your vehicle is worth as a loan. Such a move will put them at great financial risk of losing a lot of money if you fail to repay the loan. This is the major reason why lending firms offer anything from thirty to fifty percent of the value of your car.

This is where a salvage title comes in. When a vehicle has a salvage title attached to it, it means that at one point or the other, the insurance company had declared it as a complete loss. The vehicle, after this declaration, was repaired. 

The car may be in great shape, but because it was wrecked at one point or the other, the chances are that some underlying damage still exists. Such vehicles are considered wildcards, and this is the reason why the values of cars with salvage titles are valued slightly below vehicles with standard titles.

Is It Possible to Get a Title Loan on a Salvage Title?

Procuring a title loan in most of the financial institutions out there today is difficult, and the situation is dismal since a majority of these institutions will never approve or give title loans. It is even worse if your vehicle comes with a salvage title attached to it.

However, it is still possible for you to obtain a salvage car title loan. You must bear this fact in mind that the lending firm – not financial institutions, by the way – will see a need to understand the salvage title and bring down the amount of money they are willing to disburse as a loan because of it. 

So, do not be taken aback when you look up your vehicle in an automobile value guide, expect to get a specific title loan amount but was only approved for a lesser amount.

How Much Less is the Worth of A Car with a Salvage Title?

If you are asking yourself how much less a vehicle with a salvage title is worth, you need to know that it varies and depends on who values the vehicle. But a practice that is common among lenders is that the value of a car with a salvage title is usually cut in half. 

This means that if the current market value of your car with a clean title is $10,000, the lending firm is more likely to approve a salvage car title loan of $1,500 to $2,500 in preference to $3,000 to $5,000.

Do Not Let a Salvage Title Prevent You from Obtaining a Title Loan

Although you may not be able to borrow the full amount of money your automobile is worth because of your vehicle’s salvage title, you can still get some of the money that you need to solve your problems. All you need to do is to go online or visit us at our physical address to fill out the application at Salvage car title loans in Los Angeles. We will provide an estimate of the title loan so that you can get some money to take care of your personal issues, no questions asked.

If you agree with the quote of your title loan and comfortable with it, you can decide to go ahead with the process of obtaining the title loan.

Requirements for Salvage Car Title Loans in Los Angeles

The requirements for obtaining Salvage car title loans in Los Angeles are not much different from the documents you will be asked to present when applying for a clean car title loan. 

The lending firm will need the following documentation from you:

  1. Driving license or original national government-approved ID
  2. Name and date of birth
  3. Proof of regular and monthly stream of income
  4. Insurance coverage that is up to date
  5. Year, the model, make, style, and mileage of your vehicle
  6. Your phone number (whichever one you can be reached quickly – cell or home)
  7. Individual taxpayer identification number or Social security number

These requirements vary from one state to another, so get more information about the type of documents you should make available as applicable in your state.

Some states will demand the insurance coverage on your salvage car so that it can help in minimizing the severe impacts of default while other states may not ask for insurance for the titles. 

Where Can I Go to Obtain A Salvage Car Title Loan?

Salvage car title loans are accessible almost everywhere in the United States. But the extent of service delivery varies from one lending company to another. Therefore, you need to do some homework to find the best salvage car title loan firms in Los Angeles. 

You can ask your friends who have obtained salvage car title loans in the past or move around your city to locate prospective lending companies. 

You can also go online in search of companies that offer salvage car title loan services on the internet. At Salvage car title loans in Los Angeles, we offer both online and offline service to our dear and esteemed customers.

You can send us an email or call our customer care representatives to ask for clarifications about salvage car title loans as well as any other issue that is connected to it.

If you have approached some title loan companies, but they have turned you down because your vehicle has a salvage title, then you should not be discouraged or fret. We are one of the very few title loan firms that provide title loans on salvage title cars in Los Angeles. You are more than welcome to do business with us at any time.


That said, obtaining Salvage Car Title Loans in Los Angeles is possible at Car Title Loans California, though you may have to carry out some extra work. We offer our dear and esteemed customers excellent deals and will never take advantage of your lack of knowledge in any way. 

The Salvage car title loans process is efficient, simple, and fast. It doesn’t matter what kind of vehicle you have, you can get approved at Salvage car title loans in Los Angeles within minutes!

Every term and condition will be spelled out by our representative in layman’s language so that you can understand every sentence in the agreement before you append your signature.

We do not install tracking devices on automobiles including motorcycles, etc. This means that you can keep your vehicle and even drive it around at your leisure while working to repay the salvage car title loan in Los Angeles.