Re: Buying a used ATV
Posted by:
MrRetardo
()
Date: January 17, 2010 12:59PM
MrMephisto Wrote:
-------------------------------------------------------
> dummy Wrote:
> --------------------------------------------------
> -----
> > MrMephisto Wrote:
> >
> --------------------------------------------------
>
> > > If the ATV was not used as collateral for the
> > > loan, you're fine.
> >
> >
> > Hey, idiot, how could you use the vehicle you
> > bought with the loan as collateral on the loan
> > itself? Retard.
>
> Well, I was hoping that by at least trying to
> answer the question, some astute individual such
> as yourself would jump in, desperate to correct
> me, and provide the right information. It's a
> pity you only got halfway.
>
> To answer your question though, that's how it
> works with car loans. I've never taken out a loan
> for an ATV, but I imagine that anything sold by a
> dealership would be subject to the same rules.
>
> If I'm incorrect, then kindly provide the right
> information or shut the fuck up.
If you go to a bank and tell them you want a loan for an ATV, they will want %100 surety on the loan. In other words, you will have to have something of value to them that is either equal or greater than the value of the loan that they can get at legally (i.e. car, boat, house). Since there isn't a title or registration for ATV's, you would be unable to secure the bank loan with the ATV itself.