Do Salvage Vehicles Count Towards Car Title Loans?

Sep 23, 2021
Title Loans

Looking for fast finance? Are you needing to use a salvaged vehicle as collateral? Salvaged vehicles are often declared as a complete loss by insurance companies. But there is good news. You can use your salvaged car as collateral in certain cases. Here are the distinctions for a salvaged car when it comes to car title loans.


It's All About Value

Auto title loans work by using the value of your car to get funds. If your car holds value, your funds will be good. Should you default on your monthly payment, your car acts as collateral for the lender. Therefore a salvaged loan can be a tricky business. This is because the book value of your car will be far less if it's salvaged. The good news is that salvaged vehicles can be granted with a reputable lending company. But the process does contain a few more steps.


A Lower Title Loan Amount

When it comes to a salvaged vehicle, you're looking at a lower title loan amount. The lender will typically extend you a title loan that is half the amount of a traditional title. Remember that this comes down to the assessed value of the salvaged car. You'll need to consider if a lower amount of your usual loan is enough for your needs. At the end of the day, you're getting access to fast cash that you otherwise wouldn't be able to do.


Other Factors To Consider

Salvage titles are applied when a car has been in a large accident. Extensive flood damage is another deciding factor. Most states give a vehicle a salvaged title when the repair expense is more than 75% of the car's worth. Other factors include the car's age and mileage. Many salvaged cars are repaired well and worth way more than the title loan amount. Remember that it's always best to chat with an auto title loan specialist.


Title Loans Made Easy

At Rapid Auto Loans, we make car title loans easy to apply for. Here's what makes us stand out from the pack:


Quick Application Process

Our application process is easy. Once you have filled out an online car title loan application or over the phone, we determine the amount you qualify for. After coming in for an appointment at one of our authorized inspection centers, you're one step away. The final step is the verification process, which takes about 30 minutes. Once we verify your application, you'll leave the verification center with a check in hand.


No Credit Score Check

Your application is not based on your credit score or your bank account. We understand that financial affairs should be a private matter. We decide on the amount you qualify for based on the value of your vehicle. We don't go scratching into employment records or financial affairs, full stop.


Easy Insurance and Repayment Options

You will need insurance as your car acts as collateral on your loan. You can either send the insurance documents. Or you can buy an optional voluntary debt cancellation addendum. All preapproval quotes include the insurance amount.


Our finance plans are simple and easy. You will only need to make 12 monthly payments on your loan. Your first payment is only due after 30 days from your loan date. We will never charge you a prepayment penalty. And we'll only charge interest for the outstanding time on the loan. You can make payment in one of three easy ways:


  1. Mailing it to us
  2. Paying on our website
  3. Pay at an authorized payment center


Car Title Loans For Salvaged Cars

At Rapid Auto Loans, we have you covered. We'll give you a fair and trusted assessment of your car, no matter what its condition. Get the cash you need by completing an application or by calling us at 954-960-7097. You can also check out Rapid Auto Loans on Facebook for the best auto loan advice. Our friendly service team is waiting to give you expert advice on your auto loan.


apply for title loans online

At Rapid Auto Loans, we offer title loans online to those looking for ways to get emergency cash when they need it most. Unlike a payday loan, this loan uses the vehicle’s value as an exchange for funds. We never look at your income or credit score to provide these loans. Ultimately, the amount of money you can borrow with title loans online will depend on the value of your vehicle. The average loan from Rapid Auto is $2,000.

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what are car title loans

Have you tried to acquire a loan only to be rejected because of a bad credit score? There are several instances in life when car title loans can come in handy. Also known as auto title loans, buyers can take out a quick and easy loan, using their vehicle as collateral.

What Can I Use A Car Title Loan For?

Ever have one of those times when you could really use some extra cash? Of course, you have – most people have at some point or another. Every now and then, something comes up that you didn’t plan for, and it costs money to fix. But how can you find this cash, short of robbing a bank? One option is a car title loan.

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Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:



Government Fee


Credit investigative Fee


Documentary Stamp Tax


Total amount Financed


Original Loan Date




Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.