Question about taking out a auto loan on a car that i have loan free?
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Hi,
I have a car a bought with cash 3 years ago, that was 1 year old. Now i am need of some $ for repairs around the house such as apliances ect. I do not have any equity in my home for a Equity loan. The value on the car now is 10k but i need about 7k for the projects. I have average credit and hate using credit cards. Do banks do this? suggestions
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mister_galager said:
No. Banks will not loan you money on your car.
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0December 5th, 2009 at 5:00 am -
Lisa said:
You should check out Prosper:
http://www.prosper.com/join/lloe
It’s a person to person lending website. I’m a lender there and try to let everyone know about it. At least this way you will not have to put your car up or anything like that and if you have ok credit then you should probably be able to get a good rate depending on your states limitations and such. SOmething worth checking out.Like or Dislike:
0 0December 5th, 2009 at 5:00 am -
what the heck? said:
Banks can use your automobile as collateral on a personal loan. The interest rate is usually higher than what it would be on a loan if you were purchasing the automobile.
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0 0December 5th, 2009 at 5:00 am -
Bella A said:
I believe the answer you’re looking for can be found on this site. They’ve got lots of info about the subject.
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0 0December 5th, 2009 at 5:00 am -
sajith said:
You may get your doubts very well clarified from http://moneytips.bestmoneymatters.info . Best wishes!
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0 0December 5th, 2009 at 5:00 am -
Dewey K said:
There are places that offer "car title loans" but beware of their interest rates. They are exorbitant. There is an excellent article about this type of loan at this website. http://www.1-800BadCredit.com Good Luck.
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0 0December 5th, 2009 at 5:00 am -
BrettG said:
No doubt the easiest way to get insurance quotes is on the web.
Why would you waste your time on the phone calling around?
the last time i needed quotes on insurance i used one of these comparison sites and it was great.
this is the site i used and it was quick like less than 5 mins.
The last thing I want to do is listen to elevator music while waiting for a salesman.
Anyway I got good quotes and ended up saving money so I was happy.
So shop around and compare quotes which is easy on the net.
Good starting point is at this site.http://www.safelinked.info/go.php?link=auto
Good luck.
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0 0December 5th, 2009 at 5:00 am
