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I can help! I provide loans using boats, RVs, cars, trucks, jet skis, you name it! Basically, a lender will give you a % of the total value of the item for a specific duration, with a given interest rate. Think of this as a high-end pawn shop, and with much greater value. If you have interest, please contact me at gallowayinvests@gmail.com
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∙ 15y ago
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Can my furniture be used as collateral for a loan?
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.
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.
What are the disadvantages of a collateral loan?
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.
What does collateral refer to?
security for a loan or outside of what was intended (collateral damage)
If I default on my personal loan agreement, can they repossess my 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.
Can you get a loan for a boat if you have already paid cash for it?
Yes. Go to a bank where you already do business and ask for a loan using your boat as collateral. If you have the boat title in your possession, the bank will need or require the title be kept by them until the note is paid in full.
What is the going rate of return on boat loans?
An investment on a boat loan depends on many factors, such as income, loan collateral, location, and/or other. If you wish to calculate your rate of return, you must consider insurance, maintenance, and fuel fees. Here is a site that could help: http://www.seadreaminc.com/boat-loan-calculators
Can my furniture be used as collateral for a loan?
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.
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.
What are the disadvantages of a collateral loan?
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.
How do you use the word collateral in a sentence?
The bank required me to provide collateral, such as my car, in order to secure the loan.
What does collateral refer to?
security for a loan or outside of what was intended (collateral damage)
What is a loan on which the goods purchased with the loan serve as a type of secured loan.?
collateral
If I default on my personal loan agreement, can they repossess my 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.
What kind of collateral is used for a personal 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.
Can you take out a used auto loan and use the 'to be purchased' used auto as collateral for the loan?
In most areas yes, it is called collateral.
What is colleteral?
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.
