auto loan London Ontario

July 12, 2019

Do Lenders Accept Cars that are not Fully Paid as Collateral for Auto Loan London Ontario?

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 […]