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Why are car loans always secured with collateral?
O
Banks are unwilling to give out car loans unless the buyer has a big savings account.
O
Car loans build the depreciation of the car's value into the total cost of the loan.
O
Drivers are required to carry collision insurance on leased cars.
O
The car can always be repossessed if the owner stops paying off the loan.

Respuesta :

bosslayer8815

Answer:

the answer is that the car can be repossessed if the owner stops paying the loan.

kapoorprachi783

The correct answer is option D) The car can always be repossessed if the owner stops paying off the loan.

Why are car loans secured?

When you take out an auto loan, you commit to repay the loan in timely payments each month. A secured loan allows the lender to take possession of financial assets that can be used to repay the loan if you don't make the payments as promised.

Why Are Car Loans Secured With Collateral?

One of the reasons why car loans are always secured with collateral is because they're so expensive. With an unsecured auto loan, you may not be able to finance the full purchase amount. If you use the vehicle as collateral, you may qualify to finance the full amount of your car purchase.

Learn more about Car Loans here: brainly.com/question/4062807

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