Health reasons im unemployed. Have poor credit but a car valued at 1500. Can i loan using it as collateral?
by Author on Wednesday, August 25th, 2010 | 2 Comments
concerned i cannot get a loan because i have no job at the moment and poor credit, can i use my car anywhere as a form of collateral to get an emergency loan?
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A car isnt usally good collateral for a loan because it can be stolen, totaled in an accident, etc.
Selling the car is the best way to get cash out of a car.
I don’t think you’ll find a lender for a car worth only $1500.