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What Determines the Amount of an Auto Title Loan?

What Determines the Amount of an Auto Title Loan?

By 9  am on

You’re strapped for cash and considering getting a car title loan. You know a loan will give you some extra money to pay your bills, fix a broken appliance, or even increase your entertainment budget for the month. First, you want to know how much money you’ll receive. When they’re applying for auto title loans, San Diego residents will typically find car loan companies will provide them with quotes based on various factors.

Make and Model

A fully loaded 2018 Honda is worth more than a base model. However, a Lexus has a higher value than a Honda. If you have a high-end vehicle with a lot of features, you can expect to get more for your car title loan.


Car title loan companies take odometer readings before extending title loans. High-mileage vehicles aren’t expected to last as long as low-mileage vehicles. Thus, vehicles with lower mileage are worth more than vehicles with high mileage.


Newer vehicles are normally worth more than older ones, although classic cars can be worth a high dollar amount. Regardless of the year your vehicle was manufactured, you’ll likely be approved for a car title loan as long as the title is clear. However, you can expect more money if your vehicle is newer.

Vehicle Condition

The company also inspects the exterior, interior, and mechanical condition of the vehicle before deciding a loan amount. If the exterior has dents and paint chips and the interior is filled with ripped carpet and cracked vinyl, the value will go down. However, if both are in pristine condition, the value can increase by hundreds or even thousands of dollars. Along with conducting a visual inspection, the company will make sure the vehicle is in working order. If the vehicle has difficulty starting or the brakes don’t work, the value will go down.

Aftermarket Accessories or Modifications

The inspector will also check for aftermarket accessories and modifications, such as a custom paint job, a state-of-the-art sound system, and expensive wheels. Customizing a vehicle is expensive, and the money you put into the vehicle should be reflected in your loan amount. You can’t expect to get the entire amount you spent, but it should have a positive impact.


The title company needs to know you have the means to repay the title loan. If the appraisers set the loan amount at $5,000 but you only make $1,000 a month, the company might lower the loan amount to ensure you can repay it.

If you need a quick, easy way to secure cash, a car title loan may be the perfect option for you. When I’m looking for a fast, convenient way to get some extra money, I search for a reputable company that offers title loans near me. San Diego residents can rely on the high-quality service from the team at Payless Car Title Loan. To find out how we can help you use your vehicle to secure a short-term loan, call one of our friendly representatives today at (619) 600-0061.

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