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Your car (or other real/chattel property) is capital which can be used directly for gain (e.g., commuting to work, driven for hire), loaned, used as collateral
by dredmorbius 11mo ago
Your car (or other real/chattel property) is capital which can be used directly for gain (e.g., commuting to work, driven for hire), loaned, used as collateral in loans, have its likeness or image used, amongst other potential financially-beneficial actions, all without sale or transfer of title.
- victorbjorklund 11mo agoWhat kind of collateral does not involve putting the title as the collateral?
- dredmorbius 11mo agoPoint, though so long as the terms of the loan are met, possession does not transfer. The broader point of my comment remains: a vehicle is a useful asset even without transferability.