Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

Question 2 of 25
What provides collateral to secure a car loan?
A. The driver's credit report
B. The car
C. A credit card
D. A car loan

Sagot :

GinnyAnswer

Final answer:

Collateral for a car loan is the asset that secures the loan repayment, with the car itself often serving as the collateral.


Explanation:

Collateral is an asset that a borrower provides to secure a loan. If the borrower fails to repay the loan, the lender can take possession of the collateral as compensation. In the case of a car loan, the car itself serves as the collateral that the lender can seize and sell if necessary.


Learn more about Collateral for loans here:

https://brainly.com/question/36952952


Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.