Getting Car Title Loans for Vehicles Older Than 10 Years

Can you get a title loan for a car older than 10 years

Quick cash is a must if a financial emergency hits you unexpectedly.  Normal or traditional finance methods like going to a credit union or a bank can take a long time and can be hard because of credit requirements and the time it takes to get the money you need.  If you have poor credit and not a lot of time to stave off a financial emergency consider getting a car title loan.


What is required to get a a vehicle pink slip loan for an older vehicle in California?

It is a fact of life that when you need money, banks don’t want to give it to you, but when you have money banks are more than happy to give it to you.  This is where a vehicle collateral loan can come into play.  The problem is, many times people who need money quickly don’t have a newer vehicle, and lenders are not interested in taking on a bad loan.  Just so you can be educated, let’s explain how a car title loan works:  The loan will be based off the equity in your vehicle and your vehicle will be used as collateral…so it is a secured loan.

So, let’s say that you have a vehicle that has $10,000 of equity in it.  You may be able to borrow between 60-90% of the equity in your vehicle.  This will depend on many variables–the lender being the main one.  The lender will decide how much risk they are willing to take based on the condition of your vehicle, the mileage and other things.  Let’s cover the other things that a lender will consider.

  1. The auto title loan lender is going to want to know your monthly income – the higher income you have the better off you are, because the lender will know you have a higher chance of paying it off
  2. In California the minimum loan amount if above $2,500.  This is regulated by the department of business oversight in California.
  3. The lender will want to know if you have other forms of income.  Rental property income, child support, royalties–the more income streams you have the more comfortable the lender will be.
  4. Your credit score and history.  While a good credit score isn’t necessary to get a title loan in California, the lender will still take your credit history into account.   You can have a bankruptcy, a foreclosure, past medical bills unpaid, and past other bills that are unpaid, but keep in mind that you cannot be in a current bankruptcy.
  5. The information on the car.  The lender will want to see pictures of the car, the VIN, the make and brand, and the model plus the mileage on the odometer.  Additionally, the lender will want to know you have ownership of the title and the condition the title is in.  Is it a clear title or a salvage title.
  6. Professional references – like previous employment and the like
  7. Personal references – people who can vouch for you and your character.
  8. Full coverage insurance on your vehicle is also a requirement.

Also, understand that just like any car lender, if you do not pay your monthly payment you risk having your vehicle repossessed.  Title lending companies are in business to make money.  So, if you start to fall behind do not go silent on communication.  Talk to the lender and hopefully you can work out something.  Here at Family Title Loans we work with several different companies to help you get the money you need quickly.  Click on our application page here and see how much money you can get within just a few minutes.  If you live in or around San Diego, California click here for more information on how to get loan in that area.

You can also call us TOLL FREE at (844) 254-7170 and speak to one of our friendly representatives who will take time to answer your questions.

What Our Customers Are Saying

Dan Hernandez Photo
Dan Hernandez

I was really surprised at the amount of money I received from my loan on my truck’s title! The process here is really painless and I was approved in about 5 minutes and was able to pick up the money the same day.

Tamika Bennett Photo
Tamika Bennett

I had to pay my property taxes and couldn’t get a personal loan from the bank, so I found Family Title Loans online and they were abble to get me approved fast for a car title loan on my Toyota Camry. Thanks Family Title Loans!

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Arin Riley

My friends had told me aboutFamily Title Loans services and when I was short on cash I thought I would give it a chance. I was glad I did as one of their licensed vendors got me the money I need the same day!

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and even if you’ve been through a bankruptcy or foreclosure, we will work quickly to get the funds you need today!

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