ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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auto loan
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boat loan
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credit card
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housing loan
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Detailed explanation-1: -An unsecured loan requires no collateral, though you are still charged interest and sometimes fees. Student loans, personal loans and credit cards are all example of unsecured loans.
Detailed explanation-2: -Credit cards, student loans, and personal loans are examples of unsecured loans.
Detailed explanation-3: -Unsecured Loans. Unsecured loans do not use property as collateral. Lenders consider these to be riskier than secured loans, so they charge a higher rate of interest for them. Two common unsecured loans are credit cards and student loans.
Detailed explanation-4: -Mortgage: A mortgage is backed by your home. Home equity loan or home equity line of credit (HELOC): These allow you to borrow money using your home’s equity as collateral. Auto loan: An auto loan is secured by the vehicle you buy. Auto title loan: An auto title loan is secured by your car title. More items •30-Jul-2021
Detailed explanation-5: -Vehicle loans. Mortgage loans. Share-secured or savings-secured Loans. Secured credit cards. Secured lines of credit. Car title loans. Pawnshop loans. Life insurance loans. More items