You took out a $500 car title loan for 15 days at a 25% finance fee (or $125), meaning you owed a total of $625 plus any additional fees. When the due date came, you couldn't afford the payment so ...

Key takeaways. A car can be used as collateral for a loan even if your credit score is low. Loans secured by your vehicle may come with lower rates than unsecured lenders offer.

The average rate on a five-year new-car loan rose from 5.2% in February 2020 to 8% in February 2025, according to Federal Reserve data. A longer loan means lower monthly payments ...

Collateral is a valuable asset (like a car, house or even cash) you can pledge to secure a loan. If you fail to repay your loan, the lender can seize whatever you've put up as collateral ...

A personal loan is often the cheapest way to buy a car (unless you can get 0% finance via a dealer). Our eligibility calculator shows you which loans are likely to accept you before applying. If ...

Note: When it comes to the proposed car loan interest deduction, most imported vehicles, subject to the new 25% tariff, wouldn’t meet this U.S. assembly requirement and would not be eligible for it.

Car loan scandal payouts row - what's it about? 5 June 2025. Share Save. ... Millions of motorists could be in line for compensation payouts if they were mis-sold finance agreements when buying a car.