I want to get a loan but I don’t have credit, my bank statement won’t work Bc I have to many negatives, I was asked if I wanted to use car?
Use car for collateral but it’s in my parents name. I’m only 19
Can I still get the loan without them knowing ? Or will they have to be apart of it. It’s very sad but I’m really in debt to be 19 and I just want to live life freely without all these call collectors calling my phone. I need help !!!!! I have a job and I’m honestly trying to pay everybody back but now my job is cutting hours back and that’s no help
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if you don't own the car you cannot use it for collateral for a car loan
if you need money you need to work for it if sources of loans for you have dried up, or forget the reason you want the loan in the first place
Car loan with bad credit
No, you cannot use someone else's car for collateral for a loan. To use a car as collateral, you must have clear title in YOUR name alone.
You don't get out of debt by taking on more debt. Call your creditors and work out a payment plan with them and then stick to it.
You can't use your parent's car - the car's title isn't in your name. They would have to sign the loan agreement, not you.
You can't use someone else's property for collateral.
You cannot live life freely, that is your problem.
Sorry, you are not going to get a loan in your situation. And no, YOU can't get a loan based on a car you don't own. good luck on getting your debt paid off.
With no credit and no collateral (car isn't in your name so you can't use it) you're not going to get a loan on your own. Start looking for a second job. We've all been there one time or another.
Turn the radio on, and find the Dave Ramsey show. He might also be online. You need some education in money management. Don't wait until you get worse into debt. Get help now.
You are not going to get a loan if you have bad credit, a negative balance on your bank statement, and don't own anything you can use for collateral. If the car is in your parents' names, then it is their car, not yours, and you cannot borrow against it.
At least, at 19, you have time to get your credit back in order before it permanently affects the rest of your life. Pay back at least the minimum amounts on what you owe (more when you can), don't borrow any more money until you've paid back everything, and then borrow judiciously in the future. Cut back on your lifestyle so you have more money to pay down your debts quicker.
And, remember: getting a loan to pay off debt doesn't get you out of debt. You still have to pay off the loan you got to pay back your other loans. It is not a good strategy.