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∙ 13y ago
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Will the bank go after your house if you don't pay for your car loan?
no, your car loan is secured by your car, your mortgage by your home
Should you use your home equity loan to pay off your car loan?
I would need more details but in general, the answer is no. If you don't pay your car loan, you lose the car. If you get a home equity loan and can't repay it, you lose the house - big difference.
Does applying for a car loan affect your chances to get a home loan?
It does if you get turned down.
What is the difference in a car loan and home loan?
The difference is that one is for your vehicle (car) and the other is for your home. For both you are being loaned money and will need to pay them back but basically that's the difference.
How many types of loan a bank can give?
Home Loans, Car loans, education loans, personal loan
What is the difference between a collateral loan and a home equity loan?
OFFHAND I WOULD SAY THERE IS NO DIFFERENCE. WITH A HOME EQUITY LOAN, THE COLLATERAL THAT YOU OFFER TO THE LENDER, IS YOUR HOME. WITH A COLLATERALISED LOAN, YOU PUT UP SOME OTHER ITEM THAT YOU OWN, MAYBE A CAR OR STOCKS OR BONDS IN ORDER TO OBTAIN A LOAN.
Can banks in Florida require a lien on your home and car in order to get a loan?
They can, but they don't have to.
Is a car loan a secured loan?
Yes, any loan AGAINST real property is considered a secure loan. In this case, the car is the security. For a home mortgage, the home is the security. Unsecured loans are typically credit card loans and revolving lines of credit such as those you might get with Fingerhut or others who "self-finance" your purchases.
Can a financed car be used as collateral for a loan?
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.
Can you add a previous car loan into a new car loan?
No, it is not possible. Your previous loan must be completed to get a new car loan
Saturday i signed for a loan for a car drove the car home on monday my husband needs to sign the papers for the loan can we go back on the deal and get our down payment back?
ask moneysavingexpert.com
How do you finance buying back a totaled car?
Home equity loan perhaps. No bank is going to finance a totaled car.
