topic Re: salvage title loan? in Auto Loans

salvage title loan?

jcstarkey8826 — Wed, 23 Jan 2013 18:56:10 GMT

I found an SUV that solves a lot of my car issues. Its good on gas, would lower my monthly payment by $120 and is 2011 w 16k miles, so I would hope to not have many repairs.

The only issue is that its a salvage/rebuilt car. I bought a salvage car about 8 years ago, and it was the best car I had ever owned. So I'm comfortable doing so again. However last time I paid cash, this time I would need financing.

Is there any suggestions for doing so? are there lenders that deal with salvage/rebuilt lending?

Any advice is greatly appreciated as Im pretty new to this whole thing, and nervous.

thanks

Re: salvage title loan?

bahbahd — Wed, 23 Jan 2013 20:06:19 GMT

Find out why it was salvage and rebuilt. Have the SUV inspected also. It seems like a pretty bad wreck to total out a 2011 w/ 16k miles on it. Or it could be a Sandy car that was flooded to all getout. If that is the case, do not buy that car.

Re: salvage title loan?

jcstarkey8826 — Wed, 23 Jan 2013 21:29:56 GMT

@bahbahd wrote:
Find out why it was salvage and rebuilt. Have the SUV inspected also. It seems like a pretty bad wreck to total out a 2011 w/ 16k miles on it. Or it could be a Sandy car that was flooded to all getout. If that is the case, do not buy that car.

I've decided against it. After talking with them I found out it was flooded and didnt want any of that. My last car was in an accident then rebuilt, and it was great, but I dont want to mess with flooding. My father in-law is a mechanic and said he would inspect it, but once I found that out I said nooooo.