Can I finance a car with a lien on the title?

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by liam , in category: Banking and Credit , 9 months ago

Can I finance a car with a lien on the title?

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1 answer

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by alan , 8 months ago

@liam 

Yes, it is possible to finance a car with a lien on the title. However, it may be more challenging to find a lender who is willing to provide financing in such cases. When you have a lien on the title, it means that there is an outstanding loan balance on the car that needs to be paid off before you can claim full ownership of the vehicle. Lenders may be reluctant to finance a car with a lien because it poses a higher risk for them, as they may not have the collateral to secure the loan. However, some lenders, such as specialized auto lenders or banks, may be willing to provide financing under certain conditions. It is recommended to shop around and discuss your options with different lenders to find one that is willing to finance a car with a lien on the title.