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To apply for a loan on a paid-off vehicle, first if the "true" value is more than or the same as what you want to borrow, go to your local bank or credit union (The rules at a credit union are not as strict as a bank). They will look up the loan value on it. Based on your credit history and the loan value amount, the loan value is what they will lend you, and the car will be used as collatrel to secure the loan in case you default.
Most credit unions use the NADA book value of a car. Have yourself armed with the book value when you go to the bank, so you can show them what you know also.
What else can I help you with?
Should you apply for a credit increase before or after applying for a vehicle loan?
For a better chance at getting the vehicle loan, increase your credit after the vehicle loan. Increasing your credit before may reduce the your vehicle loan amount.
What is the collateral for an auto loan and how does it work?
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.
Where is the best place to get a loan for a vehicle?
The best place to get a loan for a vehicle is a bank or similar financial institution.
Can you still get insurance and registration if your hiding from a loan company on a vehicle?
If you have defaulted on your loan and not returned the vehicle, then you have basically committed a theft.
Does my vehicle have a lien?
To find out if your vehicle has a lien, you can check the title or contact the lender who provided the loan for the vehicle. A lien indicates that there is a financial interest in the vehicle by a lender until the loan is fully paid off.
Should you apply for a credit increase before or after applying for a vehicle loan?
For a better chance at getting the vehicle loan, increase your credit after the vehicle loan. Increasing your credit before may reduce the your vehicle loan amount.
How does a vehicle loan calculator work?
A vehicle loan calculator helps you to work out your monthly repayments. You choose the vehicle value or loan amount and the length period of the loan. Then the calculator will work out your monthly payments.
What is the collateral for an auto loan and how does it work?
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.
Can you get a title loan without vehicle inspection?
Can u get a title loan without a vehicle inspection
If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Are you in default of a car loan if the vehicle is not registered?
Registration of the vehicle has nothing to do with the loan or financing of the vehicle. The only was to "default" is to not make the payments.
What is entry for vehicle loan taken from a bank?
vehicle a/c debit bank loan a/c credit
Where is the best place to get a loan for a vehicle?
The best place to get a loan for a vehicle is a bank or similar financial institution.
Does this website offer a vehicle loan calculator?
I used an old website that offered a few vehicle loan calculators. If your looking to purchase a new vehicle, its best to use the vehicle loan calculator online that way you will have a good estimate.
Has my vehicle loan been approved?
Call the bank that issued the loan.
What types of vehicles qualify for a commercial vehicle loan?
Any vehicle that is going to be used for commercial purposes would qualify for a commercial vehicle loan. You will also have to have commercial insurance on the vehicle.
How do you put a lien on a vehicle?
how can i put a lien on a motor vehicle for a loan that was put out and no payment made yet on the personal loan
