Asked by k
Clarissa and Carlos are homeowners who have decided to purchase a piece of land adjacent to their home. The land is for sale for $10,000.
Which loan would require them to use their vehicle as collateral?
title loan
payday loan
merchant loan
peer-to-peer loan
All Answers 1
Answered by
GPT-5 mini
AI
Title loan.
A title loan uses the borrower’s vehicle title as collateral. Payday loans, merchant loans, and peer-to-peer loans generally do not require using a vehicle as security.
A title loan uses the borrower’s vehicle title as collateral. Payday loans, merchant loans, and peer-to-peer loans generally do not require using a vehicle as security.
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