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ORCR of your car as a collateral for your loan.
(01-15-2018, 06:52 AM)kaisantos2229 Wrote: I don't think most of the bank will accept ORCR of your car as a collateral for your loan specially if your car is not that expensive. Or if so maybe you can expect less money for it exchange of the possibility of not getting it back.

Yes, you're right, banks rarely accept ORCR as collateral for loans. But there are lots of lending institutions who are very much willing to accept these. Just be sure of its credibility, and carefully read their terms and conditions before signing anything.
What else can you use as collateral, would be my question? I think it also depends on how much you're borrowing. If it's a small amount you can use another household item. If it's a large amount I don't see that you have any choice unless you can get another type of loan, that does not require collateral. In my country whatever type of loan you take, if you can't repay it, your assets can be sold.

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