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Yes, any loan AGAINST real property is considered a secure loan. In this case, the car is the security. For a home mortgage, the home is the security.
Unsecured loans are typically credit card loans and revolving lines of credit such as those you might get with Fingerhut or others who "self-finance" your purchases.
What else can I help you with?
Is a car loan secured or unsecured?
A car loan is typically a secured loan, meaning the car itself serves as collateral to secure the loan.
Is a car loan an example of a secured loan?
Yes.
What makes a loan a secured loan?
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.
Are car loans typically secured or unsecured?
Car loans are typically secured, meaning the car itself serves as collateral for the loan. If the borrower fails to repay the loan, the lender can repossess the car to recoup their losses.
Is an auto loan secured or unsecured?
An auto loan is typically a secured loan, meaning the car itself serves as collateral to protect the lender in case the borrower fails to repay the loan.
Is a car loan secured or unsecured?
A car loan is typically a secured loan, meaning the car itself serves as collateral to secure the loan.
Is a car loan an example of a secured loan?
Yes.
What makes a loan a secured loan?
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.
Will the bank go after your house if you don't pay for your car loan?
no, your car loan is secured by your car, your mortgage by your home
Are car loans typically secured or unsecured?
Car loans are typically secured, meaning the car itself serves as collateral for the loan. If the borrower fails to repay the loan, the lender can repossess the car to recoup their losses.
Is an auto loan secured or unsecured?
An auto loan is typically a secured loan, meaning the car itself serves as collateral to protect the lender in case the borrower fails to repay the loan.
What types of assets can be used to get a secured loan?
The assets someone need to own to use as securities for a secured loan would be anything equal to value of the loan such as a car.
Is a car secured property in bankruptcy?
If there is a loan which used the car as collateral, yes.
Are auto loans secured loans?
Yes, they are. An auto loan is secured loan based on the collateral of your vehicle. If you don't pay the loan they will unfortunately come take your car away.
What is different about a secured loan application?
A secured loan application is different because the person who takes out the secured loan pledges an asset. An asset must be something of value such as a home or car. They then use that as the collateral, so that way if one does not pay the secured loan the creditor takes possession of the asset.
What is the advantage of a secured loan compared to an unsecured loan?
A secured loan offers lower interest rates compared to an unsecured loan because it is backed by collateral, such as a house or car, which reduces the lender's risk.
What is a secured loan?
what is a secured loan
