answersLogoWhite

0


Best Answer

Well, don't quote me on this but logic would lead one to believe that technically the lender would have a lien against the car, so, in the event of non-payment they would sell your car and return to you all monies, if any, above and beyond the balance and costs. .

User Avatar

Wiki User

8y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What does the bank do when it uses your vehicle for collateral on a personal loan in Ontario Canada?
Write your answer...
Submit
Still have questions?
magnify glass
imp