Auto Loan Question

cossie1600 · 06-16-2009, 07:50 PM

I would assume you have to put them as a lien holder

joseZhartford · 06-16-2009, 08:32 PM

what is a lian holder is it like a second owner?

WShade · 06-16-2009, 10:09 PM

Quote:

Originally Posted by joseZhartford

what is a lian holder is it like a second owner?

Yes. You obtain a loan from the bank and the bank has a financial interest (lien holder) in the vehicle as they own it as well. They hold the title until you pay off the vehicle. Stop paying and they repossess.

joseZhartford · 06-17-2009, 04:26 PM

Quote:

Originally Posted by WShade

Yes. You obtain a loan from the bank and the bank has a financial interest (lien holder) in the vehicle as they own it as well. They hold the title until you pay off the vehicle. Stop paying and they repossess.

are you sayin that is possible to get a loan even with my credit score being low at 526 , cuz thats the only thing stopping me to get a z rite now. a nissan dealership already did a credit check on me and told me my credit is to low and i need a cosigner with a high credit score

WShade · 06-17-2009, 05:40 PM

I was simply explaining what a lien holder was. But, honestly I think you should wait on your purchase. As you stated, with a 526 credit score most banks will not finance you, you need a cosigner or a very large down payment.

diawilliams · 11-30-2011, 06:08 AM

Thanks for the information. I was looking for the this type of stuff. Because i am also dealing with this type of problem. Now i can easily handle my problem.
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m4a1mustang · 02-15-2012, 09:31 AM

FYI the guy trestan is a spammer. Reported.

SS66 · 02-15-2012, 09:16 AM

To the OP. FYI on a recomendation of financial resources like Payday loans. Absolutely a horrible choice or recomendation. I would say stay completely away from these types of no credit check local financing or online financing services. Their is zero need to borrow on the short term on a tax return. You can file electronically and receive your money directly into your bank account fairly quickly. Good luck!

06-17-2009, 05:40 PM	#5 (permalink)
WShade Track Member Join Date: Jan 2009 Location: San Antonio, TX Posts: 765 Drives: 09 370Z T/S/N Rep Power: 189	I was simply explaining what a lien holder was. But, honestly I think you should wait on your purchase. As you stated, with a 526 credit score most banks will not finance you, you need a cosigner or a very large down payment. __________________ Q50S Q60 RS400

11-30-2011, 06:08 AM	#6 (permalink)
diawilliams Base Member Join Date: Nov 2011 Location: alaska Posts: 1 Drives: 2009 Rep Power: 15	Thanks for the information. I was looking for the this type of stuff. Because i am also dealing with this type of problem. Now i can easily handle my problem. __________________________________________________ __________ Learn more about: Car Finance \| car finance Australia Last edited by diawilliams; 11-30-2011 at 06:15 AM.

02-15-2012, 09:31 AM	#7 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6964	FYI the guy trestan is a spammer. Reported. __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

02-15-2012, 09:16 AM	#8 (permalink)
SS66 Base Member Join Date: Apr 2011 Location: Overland Park, Kansas Posts: 165 Drives: 2011 370Z SP m6 Rep Power: 16	To the OP. FYI on a recomendation of financial resources like Payday loans. Absolutely a horrible choice or recomendation. I would say stay completely away from these types of no credit check local financing or online financing services. Their is zero need to borrow on the short term on a tax return. You can file electronically and receive your money directly into your bank account fairly quickly. Good luck! Last edited by SS66; 02-15-2012 at 09:20 AM.

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06-16-2009, 07:50 PM	#1 (permalink)
cossie1600 A True Z Fanatic Join Date: Jun 2009 Location: californee way Posts: 5,380 Drives: 370, Leaf Rep Power: 31	I would assume you have to put them as a lien holder

06-16-2009, 08:32 PM	#2 (permalink)
joseZhartford Base Member Join Date: Jun 2009 Location: E hartford, connecticut Age: 46 Posts: 122 Drives: 2010 370z base coupe Rep Power: 17	what is a lian holder is it like a second owner?

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