1 Million Naira Loan With My Car As Collateral - Autos

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1 Million Naira Loan With My Car As Collateral - Autos - Nairaland

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1 Million Naira Loan With My Car As Collateral by lamboloosta(m): 9:58am On Apr 08

Good Morning House.

Please I need a loan of 1Million for the period of 2months and I'd be using my original car documents as collateral.

It's a 2005 Toyota Camry XLE

Re: 1 Million Naira Loan With My Car As Collateral by Zonefree(m): 10:00am On Apr 08

lamboloosta:
Good Morning House.

Please I need a loan of 1Million for the period of 2months and I'd be using my original car documents as collateral.

It's a 2005 Toyota Camry XLE V6

Please if you have anyone that can offer to lend, kindly send me his or her contact.

Location: LAGOS

Thanks.

Like, you'll give the person a piece of paper and the person will release N1M to you? undecided

30 Likes 3 Shares

Re: 1 Million Naira Loan With My Car As Collateral by lamboloosta(m): 10:03am On Apr 08

[quote author=Zonefree post=129326452]
Like, you'll give the person a piece of paper and the person will release N1M to you?

That's why i sent pictures.
I use the car for Uber

Basically I'm using the car as collateral for the Loan

Re: 1 Million Naira Loan With My Car As Collateral by Adewale1603(m): 10:04am On Apr 08

Zonefree:

Like, you'll give the person a piece of paper and the person will release N1M to you?

original car documents. Not just a piece of paper

Re: 1 Million Naira Loan With My Car As Collateral by lamboloosta(m): 10:06am On Apr 08

Adewale1603:
original car documents. Not just a piece of paper

Yes the Original Car Documents

1 Like

Re: 1 Million Naira Loan With My Car As Collateral by Cumtroller: 10:06am On Apr 08

lamboloosta:
Good Morning House.

Please I need a loan of 1Million for the period of 2months and I'd be using my original car documents as collateral.

It's a 2005 Toyota Camry XLE V6

Please if you have anyone that can offer to lend, kindly send me his or her contact.

You can also reach me via WhatsApp on 07031174249

Location: LAGOS

Thanks.

Drop the car and get your loan of 1m.

22 Likes 1 Share

Re: 1 Million Naira Loan With My Car As Collateral by Zonefree(m): 10:07am On Apr 08

Adewale1603:
original car documents. Not just a piece of paper

What will the person do with the car documents after giving you N1M and you're still cruising your car? undecided

Or you think that carton up there is an asset?

15 Likes

Re: 1 Million Naira Loan With My Car As Collateral by lamboloosta(m): 10:10am On Apr 08

Cumtroller:

Drop the car and get your loan of 1m.

If the person is in Lagos no problem and if upon returning the borrowed amount, my car is as intact as I dropped it.
No problem.

Please if you have anyone that is available to loan, kindly share.

Re: 1 Million Naira Loan With My Car As Collateral by lamboloosta(m): 10:11am On Apr 08

Zonefree:

What will the person do with the car documents after giving you N1M and you're still cruising your car?

Or you think that carton up there is an asset?

I can drop the car if the lender is here in Lagos and can also assure me my car will be Infact as it was given upon returning the loan.

Re: 1 Million Naira Loan With My Car As Collateral by Cumtroller: 10:14am On Apr 08

lamboloosta:

If the person is in Lagos no problem and if upon returning the borrowed amount, my car is as intact as I dropped it.
No problem.

Please if you have anyone that is available to loan, kindly share.

I will share. If you default in payment even once, the car ceases to be your property.

3 Likes

Re: 1 Million Naira Loan With My Car As Collateral by lamboloosta(m): 10:15am On Apr 08

Cumtroller:

I will share. If you default in payment even once, the car ceases to be your property.

Can we discuss in details ON WhatsApp?

Re: 1 Million Naira Loan With My Car As Collateral by Ezemarcel(m): 10:20am On Apr 08

Better sell the car and fix your life.. Else you will get a loan u won't be able to pay and your car will fie

16 Likes 1 Share

Re: 1 Million Naira Loan With My Car As Collateral by agemmy113(m): 10:25am On Apr 08

Just kukuma sell the car if you want to sell with good deal call me 08142956318

2 Likes

Re: 1 Million Naira Loan With My Car As Collateral by Adewale1603(m): 10:28am On Apr 08

Zonefree:

What will the person do with the car documents after giving you N1M and you're still cruising your car?

Or you think that carton up there is an asset?

but banks do accept it nw. Lands, company, cars are assets

1 Like

Re: 1 Million Naira Loan With My Car As Collateral by Zonefree(m): 10:32am On Apr 08

Adewale1603:
but banks do accept it nw. Lands, company, cars are assets

Cars are depreciating asset while lands are long term asset.

9 Likes

Re: 1 Million Naira Loan With My Car As Collateral by iamtoofan: 12:10pm On Apr 08

Zonefree:

Cars are depreciating asset while lands are long term asset.

cars are depreciating asset Before not anymore, imagine someone bought big daddy camry 1.7m 2014 and fastforward to today he wants to sell the car for 3.5m

that is like 101% profit ... upon useage

Sometimes school naa scam

2 Likes

Re: 1 Million Naira Loan With My Car As Collateral by Zonefree(m): 12:15pm On Apr 08

iamtoofan:

cars are depreciating asset Before not anymore, imagine someone bought big daddy camry 1.7m 2014 and fastforward to today he wants to sell the car for 3.5m

that is like 101% profit ... upon useage

Sometimes school naa scam

There's no profit here.

The value of 1.7m in 2014 is greater than the value of 3.5m in 2024.

In 2014, you can buy 600 bags of cement with 1.7M.

Presently, same 600 bags of cement is nothing less than 5.4M

22 Likes 1 Share

Re: 1 Million Naira Loan With My Car As Collateral by jamesversion: 12:35pm On Apr 08

Zonefree:

What will the person do with the car documents after giving you N1M and you're still cruising your car?

Or you think that carton up there is an asset?

That was how I gave someone 500k in June 2022 to repay back in December 2022 for this same big for nothing car. December reach, both car and person disappear. I had to apprehend his mum and Dad for him to reappear. Last last na 300k the guy pay after almost 1 year.

If he's not dropping his car with original documents and written agreement, duly signed by both parties with their witnesses, then he's not serious.

14 Likes

Re: 1 Million Naira Loan With My Car As Collateral by advanceDNA: 1:12pm On Apr 08

Zonefree:

Like, you'll give the person a piece of paper and the person will release N1M to you?

Lol...

Re: 1 Million Naira Loan With My Car As Collateral by advanceDNA: 1:20pm On Apr 08

Adewale1603:
original car documents. Not just a piece of paper

People drive around with photocopy and keep original at home..

..if u don Gerrit... fogerrit

2 Likes

Re: 1 Million Naira Loan With My Car As Collateral by iamtoofan: 1:25pm On Apr 08

Zonefree:

There's no profit here.

The value of 1.7m in 2014 is greater than the value of 3.5m in 2024.

In 2014, you can buy 600 bags of cement with 1.7M.

Presently, same 600 bags of cement is nothing less than 5.4M

it is good to know you have A1 in maths, however

Profit is not define by economic value or purchasing power, instead of going Further its just a simple maths

Cost price - selling price = Profit.

Besides No one stores or has Bags of cement produce in 2004 to sell in 2024 undecided

10yrs ago land in my area is sold for 3m/4m which is enough to JAPA but today same land are sold around 12m and its not enough to JAPA .... so for these simple reason do we say Land is not an asset or discard ROI

10 Likes

Re: 1 Million Naira Loan With My Car As Collateral by Adewale1603(m): 1:50pm On Apr 08

advanceDNA:

People drive around with photocopy and keep original at home..

..if u don Gerrit... fogerrit

I Gerrit. Until when you'll enter or encounter a case or scenerio with the law enforcement that would require you to present the original car documents, not photocopy

Re: 1 Million Naira Loan With My Car As Collateral by yomi531(m): 3:06pm On Apr 08

Cumtroller:

I will share. If you default in payment even once, the car ceases to be your property.

Which kind w*ckedness be DAT.

Re: 1 Million Naira Loan With My Car As Collateral by ravensckar(m): 4:38pm On Apr 08

Somebody is about to get scammed. cheesy

To get a loan, you either approach your bank, co-operative society, family or friends. But to come online and request for a loan in exchange for a piece of paper is ridiculous.

2 Likes

Re: 1 Million Naira Loan With My Car As Collateral by Chummynoni(m): 5:30pm On Apr 08

iamtoofan:

cars are depreciating asset Before not anymore, imagine someone bought big daddy camry 1.7m 2014 and fastforward to today he wants to sell the car for 3.5m

that is like 101% profit ... upon useage

Sometimes school naa scam

do you know what they call time value of money? At at 2014, the 1.7 was big money just the same as 3.5m.

Re: 1 Million Naira Loan With My Car As Collateral by whirlwind7(m): 5:43pm On Apr 08

iamtoofan:

cars are depreciating asset Before not anymore, imagine someone bought big daddy camry 1.7m 2014 and fastforward to today he wants to sell the car for 3.5m

that is like 101% profit ... upon useage

Sometimes school naa scam

Ok naw.

You want to prove that 3.5m today has more value than 1.7m in 2014 abi?

Selling it for 3.5m is not a profit in real value.
It would only be a profit if that amount can buy, say, Camry 2010 model today (an upgrade)

2 Likes

Re: 1 Million Naira Loan With My Car As Collateral by Inspirer1: 5:57pm On Apr 08

iamtoofan:

it is good to know you have A1 in maths, however

Profit is not define by economic value or purchasing power, instead of going Further its just a simple maths

Cost price - selling price = Profit.

Besides No one stores or has Bags of cement produce in 2004 to sell in 2024

10yrs ago land in my area is sold for 3m/4m which is enough to JAPA but today same land are sold around 12m and its not enough to JAPA .... so for these simple reason do we say Land is not an asset or discard ROI

There's also the fact that one must have derived more than enough utility from using the car over 10 solid years which he didnt put into consideration, he needs to quantify that too and add it to the amount being sold now.

Re: 1 Million Naira Loan With My Car As Collateral by obayendo1010(m): 6:02pm On Apr 08

What's the interest, 1m to pay 1.2M in a month?

Re: 1 Million Naira Loan With My Car As Collateral by RichIgboBoy: 6:31pm On Apr 08

Zonefree:

There's no profit here.

The value of 1.7m in 2014 is greater than the value of 3.5m in 2024.

In 2014, you can buy 600 bags of cement with 1.7M.

Presently, same 600 bags of cement is nothing less than 5.4M

the mumu don see say na him no go school

2 Likes

Re: 1 Million Naira Loan With My Car As Collateral by laivwire(m): 6:41pm On Apr 08

lamboloosta:

Can we discuss in details ON WhatsApp?

Don't go there.

Re: 1 Million Naira Loan With My Car As Collateral by rexesq(m): 6:47pm On Apr 08

Zonefree:

Like, you'll give the person a piece of paper and the person will release N1M to you?

1 Like

Re: 1 Million Naira Loan With My Car As Collateral by AcadaWriter: 7:12pm On Apr 08

What's the interest, 1m to pay 1.2M in a month?

1 Like

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