marshallmattah
13.11.2020 •
Social Studies
A financial institution that makes loans using a borrower's car as collateral is called a:
Х
A. payday lender
B. retail bank.
C. title pawn lender.
D. credit union.
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Ответ:
A finance institution that makes loans through the use of a borrowers car as collateral is called a title pawn lender.
What is a title pawn lender?This is a type of lending that has the title cars lenders losing their cars when they fail to pay back their loans.
In this type of loan the collateral is 20% of the car title which the owner of the car loses as they continue to collect new loans to cover for old loans.
Read more on title pawn lender here:
link
Ответ:
a swag one
Explanation: