How do I take out a loan against my car?
How do I take out a loan against my car? To borrow against your vehicle, you need to have enough equity in your car to fund a loan. In many cases, you need to have paid off any other loans used to purchase the vehicle, but some lenders allow you to borrow if you're still paying off a standard auto purchase loan. Can I borrow money against my vehicle? Regrettably, this is not possible! NSW legislation states “To borrow money against your car title from a licenced car pawnbroker, borrowers must leave their asset with the vehicle pawnbroker as loan...