What is LTV and How Does it Affect Car Loans?
What is LTV and how does is affect car loans
The acronym LTV stands for Loan to Value and is defined as follows.
- LTV The ratio of the Loan Amount divided by the Collateral Value
When it comes to getting approved for a car loan this value is extremely important. Here at FundingWay.com we witness several times where car buyer was pre-approved online, but was unable to buy the car they wanted due to LTV restrictions set by the car loan lender. When you get pre-approved online the lender sets two conditions on the loan, a Maximum LTV amount, and a Maximum monthly payment amount.
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