Collateral Loans

Maximizing your wealth requires understanding your financial goals and building strategies to work toward them. Loans available include two options – secured and unsecured. 

A collateral, or secured loan, is guaranteed by something you own. If you fail to repay the loan, you agree to surrender the property securing the loan — like a car, savings account, or other asset. An unsecured personal loan doesn’t require any collateral.

Collateral can be anything you own, but the item’s value must be sufficient to cover the debt if you default. Securing a loan with collateral gives you more borrowing power and a lower interest rate  — even if you have less-than-perfect credit. 

A collateral loan is an excellent option for purchasing: