To qualify for title loans on an older or “classic car,” you must first understand if the loan makes sense based on how much money you want to borrow and what you will ultimately get. If there’s sufficient value on the vehicle, you’ll likely be approved for a loan on an older classic car.

Most older vehicles have high mileage, and because of that, they don’t carry much value, but some classic vehicles and other well-maintained cars can be worth a good amount of cash. Even a classic car with over 150,000 can easily qualify for a title loan based on the simple fact that it has a high resale value.

Many classic cars go up in value and that means you can expert more cash than what you would get with a similar vehicle that was manufactured just a few years ago. A vehicle’s resale value is a primary factor when determining whether someone gets a secured title loan. Because of that, any older car that’s maintained its value can get you qualified for same day cash from Premier Title Loans!

Classic Car Title Loans – What Qualifies

In many places, the value of your vehicle is determined by how much comparable cars sell for on the open market. Even though each lender determines the specific loan amount, the resale value is the primary source to determine the title loan value. All types of vehicles can qualify for a title loan, including classic vehicles and older cars with significant mileage. It doesn’t matter if your vehicle is from the 70s or if it’s a rare Corvette from the 90s. Any car or truck with an appraised value of $6,000 or more should have no problem qualifying as collateral for a loan.

As always, a vehicle is only worth what someone wants to pay for it, and that’s why you should only apply with a company specializing in equity financing for classic autos. So, knowing what it is worth is the initial determinant of the trade value. The vehicle’s value is a fundamental component of the loan, so it makes sense to know this value to get the most out of the transaction.

Title Loan Lender Restrictions On Older Vehicle Year and Models

It’s easy to determine the value of an auto title loan for older cars using an online valuation tool that provides up to date pricing and other resale values to determine how much the car is worth. Most lenders use this calculation to determine an initial estimate. This is especially true for older cars that can fluctuate based on vehicle conditions that would otherwise be minor. Essentially this means that your car’s value is the most important factor when it comes to what you need to qualify.

Yes, the car has to be lien free and you probably won’t qualify for a title loan with a car that’s shared or not titled in your name. Besides owning a vehicle you also need proof of income and valid registration, even if the vehicle doesn’t run is and is registered as Planned Nonoperation.

Older and classic vehicles often have more mechanical issues and other damage that can quickly lower their resale values. Yes, these cars are older and many have cosmetic issues after years of wear and tear. But a classic car’s value is often based on how it looks and it’s difficult to determine an actual value without checking out the car.  Because of that, it’s challenging to find a company that offers no inspection title loans for classic cars. Realistically, you must verify your vehicle in person inspection. In scenarios where the lender offers no inspection loans, they will still require extensive proof that a classic car exists. This can include videos or pictures, and likely will need someone to view the vehicle in person if they can’t inspect it.

Find Title Loan Companies Offering Old Car Title Loans

Classic or even older cars can be worth a lot of money and some borrowers can get a title loan up to $25,000 for a classic car that doesn’t even run! All that matters is that your car matches up with the current resale value of that vehicle. For example, you may have a 1969 Chevy Camaro with over 200,000 miles. But these older muscle cars are still worth a lot of money and as such you can borrow against that equity!

But what about an older car with high miles and little collectible value? Some of these vehicle’s are worth more than you think and as long as it runs and is mechanically sound, there’s a good chance you can tap into that equity In situations like this, it’s helpful to first determine the value of your vehicle and then see if you can qualify for a title loan.

Shop around for quotes from title loan companies offering cash for classic cars. Many of these vehicle valuations can differ widely; some lenders may offer higher loan amounts with better financing terms. Apply with Premier Title Loans online or call 800-250-6279 to get multiple quotes in just hours!

Jessica Chase

Jessica has been working in the title loan lending industry since 2012. Before that, she managed a team of customer service representatives for one of the largest payday loan companies in the US. Since coming to Premier Title Loans, she’s overseen our sales and marketing department and looks forward to educating consumers on their different financing options. Jessica is always open to feedback and questions related to short term loans!