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4X4 · 03-03-2009, 12:52 PM

I borrowed money from a bank to buy a truck. They did not actually register the truck as collateral on the loan, even though they called it an automobile loan. The likely reason they didn't use the truck as collateral was because I had a co-signer.
I have since sold the truck and still have the loan (I sold the truck and then blew the cash on H&B instead of paying off the loan). There is no lien on the truck.

So the answer to the original question is maybe.

03-03-2009, 12:52 PM	#7
4X4 One of the Nine Join Date: Dec 2004 Exp:	I borrowed money from a bank to buy a truck. They did not actually register the truck as collateral on the loan, even though they called it an automobile loan. The likely reason they didn't use the truck as collateral was because I had a co-signer. I have since sold the truck and still have the loan (I sold the truck and then blew the cash on H&B instead of paying off the loan). There is no lien on the truck. So the answer to the original question is maybe.