Wednesday, May 26, 2010

Can you get a loan on a salvage title vehicle?

MOST INSURANCE COMPANIES WILL NOT INSURE THESE VEHICLES BECAUSE OF LIABILITY TO THEM.



IF THEY DO INSURE IT FOR YOU THE RATES WILL BE HIGHER AND THE VEHICLE WILL HAVE TO BE FULLY INSPECTED.



IF YOU BUY ONE OF THESE VEHICLES FOR $10,000 AND YOU ARE INVOLVED IN AN ACCIDENT AND THE VEHICLE IS TOTALED, THE INSURANCE COMPANY MIGHT GIVE YOU 1/3 OF WHAT THE VEHICLE IS ACTUALLY WORTH.



EVERYONE THAT BUYS ONE OF THESE VEHICLES WILL END UP PISSED OFF OR IN THE POOR HOUSE.



VERY BAD TO BUY NO MATTER HOW GOOD THE PRICE MIGHT BE.



ALSO YOU CANNOT GET ANY TYPE OF WARRANTY OR EXTENDED WARRANTY ON THESE VEHICLES AS WELL.



AS FOR A LOAN THAT WOULD BE A STICKY SITUATION JUST BECAUSE OF THE SALVAGE TITLE.



Can you get a loan on a salvage title vehicle?

Contact your bank and ask them. For the most part you will have a hard time as the vehicle has been %26quot;written off%26quot; once already. You will have a hard time getting insurance coverage for the same reason.

1 comment:


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