Can you Finance a Rebuilt Car Article Image

Can you Finance a Rebuilt Car?

Most banks and credit unions offer financing for rebuilt title cars, but terms may vary. Financing a rebuilt car is similar to financing an older used car as it often comes with stricter loan-to-value (LTV) ratios, varied interest rates, or shorter loan durations due to the vehicle’s reduced market value. Some lenders specialize in financing rebuilt cars, making them a great option to consider.

Tips for Financing a Rebuilt Title Car

1. Shop Around: Compare loan terms from multiple lenders to find the best interest rate and loan conditions.

2. Provide Documentation: Be ready to share repair records, inspection reports, the title, and bill of sale to assure lenders of the car’s quality and ownership status.

3. Consider Your Credit Score: A strong credit score can help secure better terms even for a rebuilt vehicle. 

4. Pre-Approval: Seek pre-approval to understand your budget before shopping for a car.