Does using Collateral, such as a car, help get you a personal loan?

M

markers

New member
I know they take into account your debt to income ratio, your credit score, and things of that sort. But if you used Collateral would that trump those things?
 
If you used collateral such as a car for the loan, it is no longer a personal loan but an auto loan which makes getting a loan easier to get. However if it is an auto loan, the lender will hold the title to the car, the car can be repossessed, and you will be required to carry full coverage insurance.
 
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