I have an engagemebt ring that was bought in December 05 for $3,750. Is it possible to use it as collateral on a personal loan?
2006-09-01 23:00:08 · 9 answers · asked by Hws1 1 in Business & Finance ➔ Personal Finance
Why not just sell it?? Then you wouldn't need the loan?? If you must get a loan...Do you have someone that would co-sign?? This is the easiest way... But, don't get the loan unless you absolutely must!! Sorry if I'm stating the obvious.. I don't want you to learn the hard way.
2006-09-01 23:09:45 · answer #1 · answered by Anonymous · 1⤊ 0⤋
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2016-09-26 15:52:11 · answer #2 · answered by Adriana 3 · 0⤊ 0⤋
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2016-09-28 19:15:03 · answer #3 · answered by ? 3 · 0⤊ 0⤋
You can probably use jewelry as collateral, but be aware that there is a huge markup in jewelry, so the retail price is much more than the wholesale value. You probably wouldn't be able to get much of a loan on it.
Good luck.
2006-09-02 06:38:35 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
If you are getting a personal loan from the bank, it would not be possible.
If you can get a person, ie your parent to provide a personal guarantee, it may be acceptable. If you own shares, you can use them as collateral
2006-09-01 23:09:05 · answer #5 · answered by AO 2 · 1⤊ 0⤋
YOU ARE GONNA TAKE A HUGE LOSS ON THE RING SO YOU MAY AS WELL TAKE A HIT ON IT NOW . WE DO NOT LEND ON JEWELRY. TAKE A LOAN OUT AGAINST YOUR SAVINGS ACCOUNT IS ONE WAY , SELL STOCKS IF YOU OWN ANY , SELL STUFF AROUND YOUR ATTIC-GARAGE-HOUSE, AND ANYTHING YOU DO NOT REALLY NEED .
2006-09-02 04:37:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋
There may be something of use here.
2006-09-02 09:19:17 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Pawn shop might loan you $1,000.
MIGHT!
2006-09-01 23:07:48 · answer #8 · answered by ed 7 · 0⤊ 1⤋
Hock your girlfriend!
2006-09-01 23:02:31 · answer #9 · answered by Anonymous · 0⤊ 1⤋