I found a salvaged car that only needs a little bit of work put into it in order to make it run. Will any bank give an auto loan for a salvaged title?
The decision is up to the lender. In my experience though, this car won't be valued based on the NADA or other industry resources. Hidden frame damage or other failure that resulted from the accident would inhibit a sale and the value of the car is dependent on what it would actually sell for, so if you find a lender willing to take it as collateral, it will be valued low. You may be asked to pledge other collateral as well.
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The decision is up to the lender. In my experience though, this car won't be valued based on the NADA or other industry resources. Hidden frame damage or other failure that resulted from the accident would inhibit a sale and the value of the car is dependent on what it would actually sell for, so if you find a lender willing to take it as collateral, it will be valued low. You may be asked to pledge other collateral as well.
