Post by michaelc on Feb 21, 2018 22:39:33 GMT
Hi
Excuse my ignorance regarding automotive loans, but I wonder if someone could tell me what this means? I understand it should mean it is listed on a company's list of charge at CH. If for example the car was sold, would the buyer know about the charge? What if it was exported? Or [claimed] stolen?
It doesn't feel as secure as a mortgage over a property but perhaps I'm wrong.
Of course I'm asking this due to a loan going live tomorrow. The unusual nature of the vehicle didn't worry me too much but I did start to consider the possibilities given the borrower retains usage and is responsible for it for the duration of the loan.
That all said, I have a feeling it will fill in minutes...
Excuse my ignorance regarding automotive loans, but I wonder if someone could tell me what this means? I understand it should mean it is listed on a company's list of charge at CH. If for example the car was sold, would the buyer know about the charge? What if it was exported? Or [claimed] stolen?
It doesn't feel as secure as a mortgage over a property but perhaps I'm wrong.
Of course I'm asking this due to a loan going live tomorrow. The unusual nature of the vehicle didn't worry me too much but I did start to consider the possibilities given the borrower retains usage and is responsible for it for the duration of the loan.
That all said, I have a feeling it will fill in minutes...
