Question about loans and banks - Sportbike Forum: Sportbike Motorcycle Forums
 
LinkBack Thread Tools Display Modes
post #1 of 9 (permalink) Old 10-27-2005, 12:11 PM Thread Starter
I like my bike like I like my girl - Nekkid
 
1badr6's Avatar
 
Join Date: Mar 2004
Location: rochester, mi
Posts: 1,142
Send a message via AIM to 1badr6
Question about loans and banks

Pretty much this is my situation, i want to buy this car but don't have all the money for it. I need X amount of dollars. Now what i am looking for is a bank that does collateral loans. I have 2 cars and my bike. I would like to put a lien from the bank on a title of 1 of them so i can get the money for this other car and then pay that off. Now my problem is that i have 0 credit cause i have paid cash for everything i have ever bought.

Does anyone know of any banks that do collateral loans? Lasalle doesn't, thats where i have my accounts.

If someone has done this or knows a bank that does please let me know.

-Nick


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


2006 R6 AE
1969 Firebird
1996 Dodge Dakota (work truck)


1badr6 is offline  
Sponsored Links
Advertisement
 
post #2 of 9 (permalink) Old 10-27-2005, 12:22 PM
 
Join Date: Jan 2003
Posts: 4,998
Re: Question about loans and banks

Quote:
Originally posted by linkinpark0726
Pretty much this is my situation, i want to buy this car but don't have all the money for it. I need X amount of dollars. Now what i am looking for is a bank that does collateral loans. I have 2 cars and my bike. I would like to put a lien from the bank on a title of 1 of them so i can get the money for this other car and then pay that off. Now my problem is that i have 0 credit cause i have paid cash for everything i have ever bought.

Does anyone know of any banks that do collateral loans? Lasalle doesn't, thats where i have my accounts.

If someone has done this or knows a bank that does please let me know.

-Nick
I believe the correct term isn't "Bank" it's "loan shark".
LuckyStrike is offline  
post #3 of 9 (permalink) Old 10-27-2005, 01:01 PM
 
Join Date: Sep 2002
Posts: 352
Hey Brother I work in the car business. ARe you buying this car at a dealership or private owner.

Pete
I will pm you too!!!
x1_solo is offline  
 
post #4 of 9 (permalink) Old 10-27-2005, 03:40 PM
 
Join Date: Apr 2005
Posts: 105
I think the bank term is "secured loan." Most banks should have this. If you can't find one, then pm me and I'll help you find one.
motownflip is offline  
post #5 of 9 (permalink) Old 10-27-2005, 05:35 PM Thread Starter
I like my bike like I like my girl - Nekkid
 
1badr6's Avatar
 
Join Date: Mar 2004
Location: rochester, mi
Posts: 1,142
Send a message via AIM to 1badr6
Well i called lesalle, bank 1, bank of america, national city, flagstar. And national city is the only one that might do this. I described my situation and they said ther do do colateral loans. So.... if national city doesn't do it im focked.

-Nick


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


2006 R6 AE
1969 Firebird
1996 Dodge Dakota (work truck)


1badr6 is offline  
post #6 of 9 (permalink) Old 10-27-2005, 06:39 PM
 
Join Date: Jul 2005
Posts: 3,234
If you do go through National City, go see Kathy at the 16 and Rochester Branch. She'll hook you up.



Jen
636Jen is offline  
post #7 of 9 (permalink) Old 10-27-2005, 06:40 PM
 
Join Date: Feb 2005
Posts: 629
banks are not interested in doing "collateral" loans because they have to get the "collateral" inspected and appraised, They also have to factor in disposal of said "collateral" in addition to what you purchase, etc..
Too much work for them they would rather rely on your credit history and such. You might find a bank to do this but they will rape you with high interest.
good luck
MIBUSA is offline  
post #8 of 9 (permalink) Old 10-27-2005, 07:39 PM
 
Join Date: May 2005
Posts: 1,321
im pretty positive republic bank does, i talked to the lady about it before.

i tell you what, you buy my car, ill cosign a loan for you, and i have excellent credit. sound good?
Neller0414 is offline  
post #9 of 9 (permalink) Old 10-28-2005, 08:46 AM
 
Join Date: Oct 2002
Posts: 963
Wouldn't you just do a secured loan and use the car itself as the collateral? Thats what I did on my bikes through my credit union..

T&C Federal Credit Union in Pontiac does this, but you may need to open an account first with them...
ChoCha is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Sportbike Forum: Sportbike Motorcycle Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome