Skip to content
Fast Title Lenders > Title Loans > Classic Car Title Loans

Classic Car Title Loans

Classic Ford Mustang
Classic cars make great title loan candidates.

Classic car title loans are a specialty that not all lenders offer. Some companies have year cutoffs, making classic or collector cars out of the question. Our view is that there are several characteristics that make classic cars great candidates for car title loans.  Ready to learn about getting the best classic car title loan from title loan experts with experience in the business? We’re sharing what we learned to help you navigate the often overcomplicated title loan landscape. 

The fact that they maintain their value makes getting classic car title loans with the right company fast and easy. With a title loan you borrow what you need based on vehicle value and ability to repay the loan. Fast Title Lenders can help you get the fast cash you need today using your classic car title. 

How to get a Classic or Collector Car Title Loan

The process for getting a classic car title loan is the same as any other vehicle title loan.  Follow the same streamlined and optimized process:

Apply Online

Apply Online

The first step in the classic car title loan process is applying online. The application process is usually fast and easy.

Complete Loan Agreement

Complete Loan Agreement

Make sure to read the loan agreement in full before signing. Get the best title loan for your situation.

Get Funds Direct Deposit

Get Funds Direct Deposit

Once completed you get your funds. This can be by direct deposit, check, or other method.

Can I get a Title Loan on an Old (Classic) Car?

Car title loans are based on the value of the car, not the year. While some lenders do have an arbitrary year cutoff (typically 10 or 15 years) for the cars they will lend on, the best title loan companies know the value of classic cars.  

This means getting a loan on a classic car is not an option with every car title loan company. 

On the other side of the spectrum, there are also lenders that will lend on any car; literally any car. These lenders can have very high rates to make up for the risk lending on a car worth $100 or less.  In these cases, a single repair will cost more than the car is worth. 

How do we know this? Fast Title Lenders is your insider for all title loan related information. We’ve learned from being in the business and now share what we’ve learned with borrowers to help them get the best title loan period.  

The best title loan companies, in our opinion, focus on the vehicle value and not just the year or mileage. They also don’t lend on any vehicle; which means the overall risk should be less and therefor the interest rates lower. Lending on a vehicle that has almost no value is simply asking for trouble in our experience. 

We prefer when the focus is on the value of the vehicle.  Many classic cars have a significant amount of equity, which makes them great for a title loan. 

How much can you Borrow with a Classic Car Title Loan?

Classic car title loan amounts
Classic Car Title Loan amounts are based on the value of the vehicle.

The amount of the title loan is directly related to the amount of equity in the vehicle; which is the fair market value. Typically you can borrow up to 50% of the vehicle’s fair market value. One main diffiernce with a classic or collector car title loan is that getting an accurate value of the car can be a bit more challenging than late model vehicles. 

There are valuation companies that will provide an estimate. Hagerty, for example, specializes in pricing and insuring collector and classic vehicles. The challenge is that there are not a lot of vehicle sales to validate the value. This doesn’t make the valuation incorrect, it just means the range will be larger than with a make and model that has thousands of real world sales to validate its value. 

Once you determine the vehicle value, use the title loan calculator to compute a loan amount and term.  Find one that results in a monthly payment that meets your expense requirement and fits your budget. 

If you are new to title loans, read our complete guide on how to get a title loan. It covers how to determine whether or not you are likely to make a good candidate and provides the process for determining the right loan amount.  

Classic Car Values

The reason classic cars make great title loan candidates is the fact that they hold their value. As mentioned, finding a current and accurate estimate of a collector car’s value can be a challenge.

One source for timely values of rare vehicles are the classic car auctions held each year in Arizona. This includes Phoenix, Mesa, Scottsdale, and other areas that hold auctions each year. Arizona title loans often include classic and collector cars as a result of these high profile auctions.

Classic Car Title Loan Amount and Payments

Once you have an idea of the value of your collector or classic car, you can start to figure your loan amount. Monthly payments can be adjusted depending on the interest rate and length of the loan.

Find one of the lowest rates for you title loan. To get an idea of your monthly payment and total loan cost, use our title loan calculator to compare different loan amounts and terms.

Make it a Positive Experience

Classic car title loans can be a positive experience, or, in some cases, a negative experience. Many of those who have had a negative experience usually attribute it to one of two factors. Poor treatment by the lender; and/or not understanding the cost of the loan.

Classic Ford Mustang
Find the Best Title Loan Company to make your Classic Car Title Loan experience positive.

Make sure to choose your lender wisely and understand all terms and conditions of the loan. Take your time, do a bit of research, and get a few quotes. Finding the best car title loan does require a bit of effort.

It is also important to note that, despite what some advertisements say, car title loans are not for every situation and should be examined carefully. Take a look at costs, benefits, and risks. Be sure the loan makes sense for your situation.

Can I get a Classic Car Title Loan Online?

Getting a classic car title loan online is easy with several options. These are the same for classic cars as any other car. This makes focusing on finding a title loan near you much less important, especially if you find a completely online title loan that does not require an inspection or a store visit. 

There are some additional requirements for these types of online title loans. Primarily pictures of the vehicle to support the assessment of the vehicle’s value.

For any car title loan online make sure you have the ability to take pictures of the interior, exterior, odometer, and VIN. These will be used to assess the value of the car. Need more info? Learn how to take pictures for a title loan.

Online Classic Car Title Loan
Getting a classic car title loan online is fast and easy.

Other Classic Vehicles

In addition to classic cars there are also classic motorcycle title loans that allow you to borrow against the equity in your classic motorcycle. This is also true for collector motorcycles. In many cases a classic motorcycle holds value similar to the way classic cars do.

Find out more about us and what makes us title loan experts. 

Is Bad Credit Ok?

With a classic car title loan your car is your credit. This means bad credit or no credit is usually not a problem. The value of the car, combined with the ability to repay the loan, is how the loan amount is determined.

This is done quickly, with fast approval and funding for short term emergency cash needs. The benefit of using your vehicle as collateral for the loan is that credit score is much less important. Since collector cars have value, this is used to determine the loan amount.

Income Types for Collector Car Title Loans

Proof of income is typical required for a collector car title loan. This does not mean you need to be employed or have a job to get a title loan on a classic car.

The ability to repay the loan is more important than the income type. As long as you have a means to repay the loan you can qualify for a title loan.

Classic car title loans
Payments for classic car title loans can come from any source.

As a last resort, the car itself can be the source of funds to repay the loan. This would require selling the vehicle. While not an ideal option, it is one of the reasons that allow you get a title loan with no job or verification of income.