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Does the lender take possession of the vehicle?

Are vehicle-backed business loans common?
January 9, 2026
Can I continue using the vehicle during the loan?
January 9, 2026
Are vehicle-backed business loans common?
January 9, 2026
Can I continue using the vehicle during the loan?
January 9, 2026

Yes. In this structure, the lender takes possession or direct control of the vehicle for the duration of the loan. This may involve secure storage or contractual authority to sell the asset if the loan is not repaid.

The vehicle is returned once the loan is repaid in full and all terms are met.