Have anyone ever heard of making a down payment to receive a personal loan?

Answer 1

I have never heard of a down payment with a personal loan. Only with Car and Home loans do you usually put something down.

Answer 2

Do you know the company? If so it might depend on your credit and what type of loan. If you are trying to get a loan and you have very good credit than they might ask if you are planning on putting a down payment down or ask for money for a secure loan.

Answer 3

Thats a bit pointless. Its only a personal loan why pay a downpayment to recieve the loan.

The only loans that have any form ofdownpayment are mortgages even then the doqnpayment is to cover the price of the house and goes to the seller the mortgage company tops up the rest and then you pay that part off over time.

For a personal loan to need a downpayment sounds very strange and it must be a scam.

Answer 4

Legitimate lenders NEVER require a 'down payment' for a loan. The nearest thing is from certain finance companies which take the interest from your loan 'proceeds' first, e.g., you borrow $100.00 at 15%, you get $85.00 and a weekly payback schedule until the 85bux is repaid. They already have their interest.

Answer 5

Don,t do it its a scam to get your money I never heard of putting a down payment down with a real loan you don,t

Answer 6

Don't do it. It's a scam. You'll make that down payment and never get the loan. It's called an advanced fee loan and they are fraud, scams, whatever you want to call them.

Don't do it.

Read weblinks below.

Answer 7

Yes. When I get a loan from the mafia, they always ask me to put down a toe or finger as downpayment.

Answer 8

dont do it been there done that twice by accident its an absolute ripoff the companies take the money and run - only do it if is buying a house

Answer 9

Yes

Answer 10

Scam.