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Old 09-29-2014, 02:59 PM
 
37 posts, read 37,326 times
Reputation: 72

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Hey all… I bought a car last week with cash. I got the title, had them sign it over, got a bill of sale, etc. Here's where I'm getting confused.

I'd like to free up the cash and get a loan on the vehicle. I spoke with my credit union and they said they just need the title but if I send them the title I can't register the vehicle. What's the workaround there?

Do I just register the vehicle, wait for the new title and then send that to my bank to have the loan processed?
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Old 02-04-2015, 05:24 PM
 
Location: Santa Ana
1 posts, read 468 times
Reputation: 10
Yes you must register the vehicle in your name before acquiring any type of collateral loan against your vehicle. Most companies that provide title loans a.k.a auto equity loans can assist in registering the vehicle for you and adding that cost to your loan or financing. Check out [url]http://Performanceautoloans.com[/url] We can certainly help.
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Old 02-04-2015, 05:36 PM
 
Location: West Hollywood, CA
1,238 posts, read 1,328,768 times
Reputation: 970
Quote:
Originally Posted by Monkeymike View Post
Do I just register the vehicle, wait for the new title and then send that to my bank to have the loan processed?
Yes.
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