Your collateral would also go down in value over time, and the lender would need to spend money to collect it.
Also, the lender would have to monitor you to make sure you had full insurance on the vehicle. :/
Where you saw the collateral? I am sorry but I could not find out the collateral. Op mentioned that s/he will use the
BTC to buy vehicle. And that will be in the name of the lender.
Do you think future income/capital/goods can be valid collateral? I do not think even I do not think it can be a collateral. Collateral should be sent before taking loan/product.
Edit:
According to you
- Items not in hand. cant be valid collateral. But in this case how you can call it a valid collateral.