In case you don't repay the loan, the lender can take your vehicle and promote it to cowl the loan quantity. Not all personal mortgage providers offer the identical vary of funding, so you will wish to first find a lender than can meet your exact borrowing wants. When you settle for this sort of mortgage, you comply with a fee schedule and should pay the loan back within a particular time by ensuring payments weekly, biweekly or month-to-month.