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C. B.
C. B. asked in Business & FinancePersonal Finance · 1 decade ago

Is it possible to apply for a new car loan, take receipt of the money and then use it for another purpose.?

I want to borrow money at 4.75% APR and invest into a CD with a 5.25% APY

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  • David M
    Lv 7
    1 decade ago
    Favorite Answer

    Nope, the loan company will want the title to the car you are about to buy. Also, they don't put people in prison for not paying debts. They do put people in prison for committing fraud. Which is what you are trying to accomplish here.

  • ?
    Lv 6
    4 years ago

    For Credit and finance solutions I visit this site where you can find all the solutions. http://insuranceandfinancetips.info/index.html?src...

    RE :Is it possible to apply for a new car loan, take receipt of the money and then use it for another purpose.?

    I want to borrow money at 4.75% APR and invest into a CD with a 5.25% APY

    Follow 2 answers

    Source(s): For Credit and finance solutions I visit this site where you can find all the solutions. http://insuranceandfinancetips.info/index.html?src...
  • larry n
    Lv 4
    1 decade ago

    the loan people (followed by police, judge, prison guards, then parole officer) won't think that was a wise choice.

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