Secured Loans

[Urban_Ninja]

Ill just cut to the chase here.

I dont own my own house, as Im still living my my rents, so I cant get a secured loan out on that.

But can I get a Secured Loan out on my motorbike? (only talking a couple of grand nothing huge)

[RichBurley]

Nope. You can only secure a charge on property. Or a Limited business. A bike would not be securable, so not possible. Can't you just get an unsecured loan, if it is for such a small amount?

[smartie]

you could try talking to a bike dealer to see if they can get finance on the bike for you, effectively buying the bike from you and then selling it back to you on finance?

[RichBurley]

The only reason I didn't mention logbook loans is that it is cheaper to seek unsecured finance than get a loan with them. And they are sharking money lenders of the worst kind. Check out their typical APR. I hope that APR levels at that amount are made unlawful, like the laws that already exist in Germany...

[Gareth79]

You should be able to get an unsecured loan fairly easily if you are working and can afford the repayments.