Our auto-secured loan specialists can answer any questions and help you fill out an application for the personal loan that fits your needs. Consider reaffirming your auto loan to keep the vehicle.Reaffirmation can allow you to retain an asset while upholding payment obligations. Mortgages, home equity loans, and most car loans are examples of secured debt. An unsecured debt is one that has no collateral. A car can be used as collateral for a loan even if your credit score is low. Most credit unions have a crosscollateralization clause in their loan agreements. There is other stuff you can extend as assurance to the lender like any savings accounts, bonds, stocks, shares or any other valuables. If you stop paying on your secured debt, your lender has the right to repossess your property. Some secured debts are familiar: mortgages, equity lines of credit and vehicle and equipment loans.