If I get a loan that is secured by my car, can I still sell my car?
Answers:
Yes, you can sell the car but you will have to pay off your loan to get the title.
Example: If you owe $2000 on your loan & you sell your car to Bob down the street for $4000. Bob will have to pay "loan company" $2000 & you the other $2000.
Not if there is a lien on the title. The lien must be cleared first.
Think. To secure a loan with your car you would have to surrender title. How do you sell it without title. Who would buy it?
Why think of ways to be criminal it is easier to be honest.
not until you pay your loan off. When it is secured by your car, house, or whatever it is basically loaned out to someone else until you finish your payoff.
I WOULD THINK TO SELL MY CAR MAKE SURE THE LOAN IS SECURED........
Np likely my dear.. you have basically told the back you own my car and are letting me drive it until I repay this money. I am sure you have to sigh some papers transfering the title or at the very least issuing a lien against it.
The Secured Loan information post by website user , LoanSecuredLoan.com not guarantee correctness.