The requirements for taking out a title auto loan are, being the age of 18 or older, the auto vehicle must not have financial dues, and must provide valid proof of vehicle ownership.
You will find auto title loan companies in your community. Take the title to your car with you and talk to them about a loan. Your car title will be your security for repaying the debt. Just be ware if you do not, they can repossess your vehicle.
To obtain an auto loan with a cosigner, you typically need to meet the lender's credit and income requirements. The cosigner must have good credit and be willing to take on responsibility for the loan if the primary borrower fails to make payments.
I'm not sure what a "new law auto title loan" is, but basically, if you are using your car as collateral for a loan, yes they can take it if you fail to make payments on time. This should be pretty explicitly spelled out in the paperwork.
Auto cash title loans do not put a lien on your car. What happens is you surrender the title to the loan company and they give you cash. If you fail to pay back the loan, they have the title and are now able to legally come and take your vehicle.
Yes. However, if you default on your loan, they are legally entitled to repossess and sell it. Always be careful before committing to anything!
I am able to take a loan out against my vehicle and have a co-signer and was told by the bank that this does not mean that my co-signer can have my vehicle nor their name on the title but just that they get to repay the loan if I do not. I hope this leads you in some direction.
No u have to have a title.
Yes it is common. The concept behind a 60 month auto loan is a very simple one: a person has sixty months or five years to pay off the auto loan. This means that a borrower has to make 60 payments before they get title to the car. Under a normal loan arrangement, the lender keeps the title to the car. This enables the lender to repossess or take back the car if the payments are not made.
Your info was a little sketchy but I will assume the new loan was used to pay off your existing debt on the car which, providing there are no other liens on the vehicle, will allow you to receive the title. I am assuming you have a vehicle loan agreement that is marked PAID. Receiving the actual title can take some time depending on your state.
no. because, you have to have him go with you. your names not on it? then you can't. sorry. hope i helped. =]shelbyyy
The collateral for an auto loan is the vehicle itself. When you take out an auto loan, the lender uses the vehicle as security in case you are unable to repay the loan. If you default on the loan, the lender can repossess the vehicle to recoup their losses.
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