How to ask for an equity loan from my auto?

Question

I was told by my bank to write a letter requesting equity from my car.

Answer 1

Write a normal business letter asking them to make you a loan based on the equity in your car.  State the year, make and model and the fact it is paid off.

It doesn't need to be long but make sure it is neat and the spelling is correct.

If it is not paid off, I can't imagine any bank that would lend on it--but maybe you'll be lucky and I'll be wrong.

Answer 2

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