This topic covered Secured Loans. 

  • A secured loan can be used for almost any purpose.
  • The minimum and maximum loan amount is determined by the individual lender.
  • It can be settled at any time by the customer (but there may be charges to do so)
  • No deposit is necessary from the customer, but fees may be charged.
  • The security for the lender is in the customer's property or assets, not the vehicle that has been bought using the loan.