THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The car might break down
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He could lose his job
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He job is in the city
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The monthly payments might change
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Detailed explanation-1: -Have a co-signer: Having a co-signer increases the chances of approval of a loan. A guarantor or a co-signer will be responsible for the repayment of the loan amount in case you are not able to the same. This reduces the risk factor of the lender which leads to a better chance of loan application approval.
Detailed explanation-2: -Recovery agents will be sent This mostly happens when one has defaulted for over 90 days which is categorised as a major default. The lenders issue a 60-day notice before tagging the loan account as a Non-Performing Asset. It is ideal to avoid this situation.
Detailed explanation-3: -The best and reliable car dealers willingly offer test drives to potential buyers. Don’t skip this critical step. Some things that will help you make a decision will be to check the performance, the comfort levels, boot space, good cabin room for both the passenger and the driver.
Detailed explanation-4: -In general, the longer your loan term, the more interest you will pay. Loans with shorter terms usually have lower interest costs but higher monthly payments than loans with longer terms.