Legally, NO !!! can you, sure!! LOL
Yes. And as long as you are the Co-Borrower paying the loan to the bank.
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
What is the average amount financed in an auto loan
A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.
no. not unless the lender allows you & it won't. you would have to sell the car, pay off the loan & then transfer title. all at the same time.
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
That depends on the lean holder. You may need to get a letter stating the loan has been satisfied and get a title from DMV yourself. If it was financed through Toyota Finance get the letter because you'll never get the title.
A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.
I think you could only do something like that as a cosigner, because the loan originator will put a lien on the title that will have to be settled before the car can be sold or transferred.
Answerno.I have a car that is financed through a bank. I recently found out that it has a salvaged title and I am having problems with getting full coverage insurance. the bank along with me didn't know it was a salvaged title at the time so what can I do.
No u have to have a title.
You cannot transfer the title while the lender has a lien on it and they will NOT release the lien until the loan is paid off. They will also NOT allow any names on the title that are not on the loan papers.