Auto Secured Loan: What is a limited power of attorney?
The limited power of attorney (LPOA) form authorizes Upgrade to place a lien on your car's title. State and local motor vehicle agencies require this form to protect you as the owner of the car. The LPOA only authorizes title transactions related to this loan and the specific car you're using as collateral.
In some cases, the motor vehicle agency may require the LPOA to be notarized. We'll let you know if it's required.
Articles in this section
- Auto Secured Loan: Can I apply if my vehicle is jointly owned?
- Auto Secured Loan: How do I apply for an auto secured loan?
- Auto Secured Loan: What do I need to apply for an auto secured loan?
- Auto Secured Loan: What documents are required to get an auto secured personal loan?
- Auto Secured Loan: What does collateral mean?
- Auto Secured Loan: What is a limited power of attorney?
- Auto Secured Loan: What's a notary and where can I find one?
- Auto Secured Loan: Which cars are acceptable to use as collateral?
- Auto Secured Loan: Will you take my car if I'm approved for an auto secured loan?
- How do I apply for an Auto Refinance loan?