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SC WI | Late to the party, but my bank will lend 110% of vehicles value, at prime rate.
I assume some of it is because of these loans and the ability to collect the collateral. But it is also important to note that it doesn’t end at repossession, you owe fees and the difference between what vehicle sold at auction and what you owed. Making car loans extremely low risk in general because the lien holder can be made whole in a lot of cases. | |
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Car loans
