Car Title Loan - 1,000 BTC @ 16% | Bitcointalksearch.org

imsaguy

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Quote from: Intention on February 20, 2012, 10:49:29 PM

Quote from: dmcurser on February 16, 2012, 07:04:45 PM

Dont know if Canada is like tghe us but the lender could just put a lien on the title

I don't know how it works in this case, however you can put a lien on a vehicle however it transfer to whoever he sells it to.

I know how that all works, but the whole Canada thing complicates things a smidge.

Intention

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Quote from: dmcurser on February 16, 2012, 07:04:45 PM

Dont know if Canada is like tghe us but the lender could just put a lien on the title

I don't know how it works in this case, however you can put a lien on a vehicle however it transfer to whoever he sells it to.

dmcurser

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Dont know if Canada is like tghe us but the lender could just put a lien on the title

bitlane

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I heart thebaron

Quote from: bulanula on February 16, 2012, 04:40:08 PM

How are you going to split the car if you get multiple lenders and you default ?

That was one of the first issues I addressed in the OP when posting....read it again. A single lender or 'entity' would be preferable.

Quote from: bulanula on February 16, 2012, 04:40:08 PM

Also would be better if you put "bitlane" written on a paper next to the car so we know you own it and it is not your friend's car or some random Internet picture.

Actually, I have had lenders confirm all my personal info, including my real name, matching address and if so inclined, a Google Earth shot can be seen with the car in front of my home with License plate info clearly visible.

I also welcome local visitors Wink

..nearly forgot. Due to my job (being self-employed since 2001) it's pretty easy to track me down on the Interweb and confirm everything (all info), as I provided to current/past lenders, so that it didn't seem like I was 'spoon-feeding' or trying to hide anything from anyone. I let them exercise their own 'Google-Fu' Wink

bulanula

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Quote from: bitlane on February 16, 2012, 04:38:24 PM

Quote from: imsaguy on February 16, 2012, 03:59:58 PM

You're putting the title up how? Do you plan on mailing it to the lender?

Hopefully I can find someone close to home......

How are you going to split the car if you get multiple lenders and you default ?

Make one person use the car 1 hour then the next person that invested double uses the car for 2 hours ?

Or maybe sell the car at market value and hand out the USD as BTC ?

How do we know you are not just going to head off in the car yourself Wink

Also would be better if you put "bitlane" written on a paper next to the car so we know you own it and it is not your friend's car or some random Internet picture.

Thanks !

bitlane

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I heart thebaron

Quote from: imsaguy on February 16, 2012, 03:59:58 PM

You're putting the title up how? Do you plan on mailing it to the lender?

Hopefully I can find someone close to home......then use some sort of 3rd party to hold the title and a Legal signed agreement with the Lender.

It's too bad that I couldn't find someone with a 'boot' to throw on it...lol....to secure re-payment.

imsaguy

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Don't send me a pm unless you gpg encrypt it.

You're putting the title up how? Do you plan on mailing it to the lender?

bitlane

sr. member

Activity: 462

Merit: 250

I heart thebaron

Anyone interested in providing me a loan in BTC with a car title securing it ?

I am looking for:
1,000 BTC for as long as you can provide it @ 16% per 30 days**
(**calculated per day, NON compounding, ie. 30 days 1,000 BTC = 160 BTC Interest)
I also need the ability to pay it off in a day's notice (since interest will be calculated daily) and can provide a refund with interest with a day's notice as well.

What I am offering for Security:
I will put the title of my BNR32 Skyline GT-R up to secure the loan for whatever the term, preferably ending on or before May 31, 2012 (when I plan to drive it again).
Car is located and has been registered & insured in Alberta Canada for the past 3 years+ (4 years April 18).

At current market rates, the car is worth a hell of alot more than $4,200 and unless BTC Quadruples (x4) in price and I default, you will never lose money on this deal.

I am not sure how this could work with multiple parties, unless a single lender collected all funds, then presented to me so that I only had to deal with a single person and not split the car title up amongst 20 people ....lol

I look forward to hearing from anyone interested in this. Feel free to stop by in person if you are local.
Cheers,
bitlane.

Topic: Car Title Loan - 1,000 BTC @ 16% (Read 1746 times)