Collateral is the essential requirement for getting an auto loan London Ontario. One question that always generates a lot of debate is whether a borrower can put up a vehicle that they’re still paying for as security. Can a Car with On-going Payments be Used as Collateral? Whether a vehicle that’s not 100 percent paid off is accepted as collateral will depend on the lending company. There are very few requirements for getting a fast loan and most lending companies only accept as collateral cars that have clean titles. This means the vehicle has to be fully paid. It’s a fair point as the loan depends largely on the car’s equity. However, there are lenders open to accepting vehicles that […]