There may be some signature loan companies that will take furniture as collateral. Most loan companies will want other collateral such as titles to vehicles.
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.
One disadvantage to a collateral loan is that the property put up as collateral can be taken away if the loan is not paid as promised. The dollar value of the collateral does not matter at the time, but after it is sold, the lender should return any portion above the loan repayment amount.
security for a loan or outside of what was intended (collateral damage)
The Primary Mortgage is that relationship that exists between a lender and a potential borrower. on the other hand, the Secondary Mortgage Market is the relationship that exists after the loan is closed and the lender markets the collateral of that loan for sale to an investor.
1. call money market 2. acceptance market 3. bill market 4. collateral loan market
There may be some signature loan companies that will take furniture as collateral. Most loan companies will want other collateral such as titles to vehicles.
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.
One disadvantage to a collateral loan is that the property put up as collateral can be taken away if the loan is not paid as promised. The dollar value of the collateral does not matter at the time, but after it is sold, the lender should return any portion above the loan repayment amount.
The bank required me to provide collateral, such as my car, in order to secure the loan.
security for a loan or outside of what was intended (collateral damage)
The Primary Mortgage is that relationship that exists between a lender and a potential borrower. on the other hand, the Secondary Mortgage Market is the relationship that exists after the loan is closed and the lender markets the collateral of that loan for sale to an investor.
collateral
Your property can be subject to repossession if you default on a loan. This can be the case if you put up part of your collateral as a guarantee for your loan.
It depends on the type of personal loan. It is possible to get a loan using only a good credit score as collateral. If you do not have good credit, it is still possible to get a loan without collateral, but you can expect to pay a much higher interest rate. It is also possible to use a vehicle or property as collateral.
In most areas yes, it is called collateral.
Collateral is the property a borrower pledges to a lender in a loan. This property secures the lender's interest. A house is the collateral on a mortgage loan.