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Loan secured by a vehicle
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When can I apply for this type of loan?
It is important to emphasize, however, that it is only possible to request a loan secured by a vehicle that is intended for personal use. In other words, the family car. A motorcycle can also be used for this type of loan.
Furthermore, the asset must be fully paid off and registered in the name of the person applying for the vehicle-secured loan. If you are married, you cannot apply for the loan in your name while the car is registered in your spouse's name.
Because of these issues and many other factors, many people have doubts when trying to understand which is the best option on the market, and whether it is actually worthwhile to invest in a secured loan.
Next, we will address the main questions.
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