What is the Difference Between a Salvage and Rebuilt Title?

The biggest difference between a salvage and rebuilt title is that in some states, a car with a salvage title cannot be driven on a public road. A car with a rebuilt title can be driven on a public road.

A salvage title is a type of branded title. It is issued when a vehicle is in such bad shape that the cost of repairs exceeds its current value. Typically, a vehicle with a salvage title is written off as a total loss by the insurance company. In many states, a car with a salvage title can be driven on public roads once it has been sufficiently repaired and inspected by the state. There may have been extensive damage to the vehicle due to a major accident, flood, or even a fire. If life throws a curveball at you like a car accident, you may not be able to prepare for it. According to the Bureau of Labor Statistics, over 13 car accidents occur per minute. 

A rebuilt title is issued by the applicable Department of Motor Vehicles (DMV) or equivalent after a salvage vehicle has been adequately repaired and inspected. It indicates that the car has been rebuilt and is now roadworthy. Typically, the car will need to be inspected at a state-approved inspection facility. If a car is issued a rebuilt title, it implies that the vehicle has been damaged in the past. It can be risky to purchase a vehicle with a rebuilt title, but it can be much cheaper than buying a used vehicle with a clear title. 

Looking for some emergency cash? It is possible to get rebuilt title loans! If you have a reconstructed car and a rebuilt title in your name, you can apply for ChoiceCash title loans online today. So if you need emergency funding, click here to fill out the online application form or call 855-422-7402 today to get in touch with a ChoiceCash title loan agent.1

Why Don’t You Want a Car With a Rebuilt Title?

If you are looking to buy a vehicle with a reconstructed title, you could potentially save a lot of money! Generally, cars with rebuilt titles can be less expensive to purchase than other used cars. However, cars with rebuilt titles could have hidden issues that may be expensive to fix, and they can be difficult to insure or resell. It is important to weigh the pros and cons before you buy a car with a reconstructed title. 

How Can I Use a Reconstructed Car to Get a Title Loan?

Rebuilt title loans

You may be under the impression that you need a newer car to qualify for a car title loan. If you have a rebuilt car and need quick funding for an unexpected expense or bill, it is possible to get a title loan! In fact, it can be simple and quick to apply for a ChoiceCash title loan serviced by LoanMart.1

But, in order to get a title loan with a reconstructed car, you will need to meet the initial criteria and submit the right paperwork to verify your information. Here’s what you can expect to need during the application process for a car title loan:1

  1. Proof of Income: One of the initial requirements for a title loan is that an applicant must provide evidence of income or alternative income. You can provide bank statements, pay stubs, benefit verification letters, etc.
  2. Proof of Address: You must provide proof of address during the approval process. Many applicants tend to submit recent mail, such as:
    • Credit Card Statements
    • Bank Statements
    • Utility Bills 
  3. Recent Photos of the Car: One of the many advantages of a ChoiceCash title loan is that you do not need to go through a physical car inspection! While a car inspection is necessary in order to obtain more information about your car and confirm its value, you can complete the inspection online with just a few photos. You’ll need to upload pictures of all sides of the car, the odometer reading, and the VIN (Vehicle Identification Number).
  4. A Valid, Government or State-Issued Photo ID: You can submit a driver’s license, passport, or another state-issued photo identification card during your loan inquiry.
  5. A Car Title in Your Name: Although it is possible to get rebuilt title loans, you will need a car title in your name at the time of your loan inquiry.

You can conveniently upload all of your documents online if you apply for a ChoiceCash title loan serviced by LoanMart! Or, you can email / text the required paperwork to a title loan agent at your earliest convenience.1

How Much Money Can I Get If I Use a Rebuilt Car to Get a Title Loan?

title loans on salvage car

The amount of money you can borrow through a car title loan is primarily determined by the value of your vehicle and your ability to pay off the loan. Generally, if you qualify for a car title loan, you can access up to 50% of the total value of your vehicle.1

But, it’s no secret that if you have a car with a rebuilt title, it may have less value than a similar model that has a clear title. Some of the factors that can affect the total value of your vehicle besides the title brand are:

  1. Make, Model, Year, and Style of the Car
  2. The Condition of the Vehicle
  3. Any Modifications Made to the Car

However, you can still qualify for a title loan even if you have a car with a rebuilt title! Use ChoiceCash’s online title loan calculator tool to get an estimate of your reconstructed car’s equity and obtain a loan quote with no obligation. If you qualify for rebuilt title loans, you could get quick funding as soon as the next business day!1

Where Can I Find Rebuilt Title Loans Near Me?

You don’t need to drive anywhere to find rebuilt title loans! With ChoiceCash title loans, you can apply for a title loan online or over the phone. Take a closer look at the quick, three-step process to apply for emergency funding:1

  1. Call or Click Online: Just use your smartphone or computer to fill out an online application form. Additionally, you can call a ChoiceCash title loan agent at 855-422-7402
  2. Upload the Required Documents: You can easily upload the necessary documents online without a hassle.
  3. Find Out if You Can Qualify for Rebuilt Title Loans: If you are approved for the loan, you can sign your contract and discuss your loan terms with your title loan agent.1 If you qualify for a ChoiceCash title loan, you can choose between a few different ways to collect your money:1
    • Direct Deposit
    • A Check in the Mail
    • Have the Funds Added to a Debit Card
    • Pick Up Your Funds at a Participating Money Transfer Location

With ChoiceCash title loans serviced by LoanMart, eligible borrowers could get their funds in as little as one business day, so why wait to see if you qualify?1

Caro H.
Caro H.
Caro H. is the manager of the ChoiceCash content team and has over 4 years of experience as a digital content creator and editor in the financial services industry. Having worked with multiple clients in the financial sector, she is able to effectively oversee the team on a managerial level. She holds a BA in communications and leads the ChoiceCash content team toward the goal of content creation that facilitates the understanding of complex financial content for diverse audiences.