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The V5 document records who the Registered Keeper of the vehicle is; it does not establish legal ownership of the vehicle. These documents used to be blue on the front. However, they were changed to red in 2010/11 after approximately 2.2 million blank blue V5 documents were stolen, allowing thieves to clone stolen vehicles much more easily. [2] [3]
A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their vehicle title as collateral. [1] Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. [ 2 ]
Car title loans cater to consumers with past credit challenges who need fast cash. Most lenders have little to no credit requirements — some won’t even check your credit. The application ...
Since unsecured business loans pose a higher risk for lenders, there are often strict eligibility requirements to make sure you repay the loan. Having the right documents ready can help the ...
A direct loan is one that the borrower arranges with a lender directly. Indirect financing is arranged by the car dealership where the car is purchased. Legally, an indirect “loan” is not technically a loan; when a car buyer obtains financing facilitated by a dealership, the buyer and dealer sign a Retail Installment Sales Contract rather ...
A VA loan certificate of eligibility (COE) is the first step toward getting a VA loan. The U.S. Department of Veterans Affairs provides the COE, which serves as evidence that you meet the VA loan ...