Are auto loans recourse or nonrecourse?

Are auto loans recourse or nonrecourse? Example of a Recourse Loan Most automobile loans are recourse loans. If the borrower defaults, the lender can repossess the car and sell it at full market value. Is an auto loan a recourse loan? Secured debt like auto loans, and credit cards are examples of recourse debt. This … Continue reading Are auto loans recourse or nonrecourse?