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    allure24's Avatar
    allure24 Posts: 1, Reputation: 1
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    #1

    Sep 7, 2008, 10:47 PM
    Secured loan with bad credit
    I have bad credit and I need a 3500 loan. If I use my car as collateral would I have a good chance of getting the loan. The bank is the bank I use for my account and I have had an auto loan from them in the past which has been paid off for a cpl years now, what are my chances of getting another loan
    slowandeasy's Avatar
    slowandeasy Posts: 353, Reputation: 14
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    #2

    Sep 8, 2008, 08:12 AM
    If your credit is really bad, judgements, garnishments, etc then I doubt it . It may depend on how old your car is and the bank you are dealing with. Maybe you should try to work on improving your credit before seeking a loan
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