Yes, you can use a leased car as collateral for a loan, but it depends on the lender's policies and the terms of the lease agreement.
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.
I dont have great credit & need a loan bad I have a 2004 Chevy Venture Van paid for that i can use for collateral where can I go to get a loan?
Yes, you can use your house as collateral for a loan, which means that if you fail to repay the loan, the lender can take possession of your house.
Yes, you can use your IRA as collateral for a loan, but it is not recommended as it can have negative consequences such as early withdrawal penalties and tax implications.
Yes, you can use an IRA as collateral for a loan, but it is not recommended due to potential tax implications and penalties for early withdrawal.
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.
We put up our house as collateral for the loan.
When it comes to using collateral for a car equity loan using your car title is an option through certain loan providers it just depends on their qualifications and the value of your car.
Yes, your car can be used a collateral but it is up to the lender.Yes, your car can be used a collateral but it is up to the lender.Yes, your car can be used a collateral but it is up to the lender.Yes, your car can be used a collateral but it is up to the lender.
No. If you use a vehicle as collateral on a loan or something of that nature, the car actually becomes property of the lien holder (person to which is holding it as collateral), and cannot be sold unless the loan is cleared up.
I dont have great credit & need a loan bad I have a 2004 Chevy Venture Van paid for that i can use for collateral where can I go to get a loan?
Yes, IF the lender has a contract specifing the car as collateral for the loan. Once you use the car for collateral, all the titles in the world wont stop the repo if you default the loan.
It is not illegal to use a financed vehicle as collateral for another loan, but it's important to check your financing agreement to ensure there are no restrictions. Additionally, defaulting on the new loan could put your vehicle at risk of repossession by the lender.
Yes, you can use your house as collateral for a loan, which means that if you fail to repay the loan, the lender can take possession of your house.
Normally it is called an Auto Loan if you are using the vehicle as collateral for the loan. But, you can use something else as collateral such as your home, in which case it would be a Home Equity loan.
Yes, you can use your IRA as collateral for a loan, but it is not recommended as it can have negative consequences such as early withdrawal penalties and tax implications.
Yes, you can use an IRA as collateral for a loan, but it is not recommended due to potential tax implications and penalties for early withdrawal.