The correct response is:
Used cars have a higher interest rate than new cars.
Generally, lenders perceive new cars as less risky investments compared to used cars, leading to lower interest rates for new car loans.
What is the difference in loan interest rates between new and used cars?
(1 point)
Responses
Used cars have a higher interest rate than new cars
Used cars have a higher interest rate than new cars
New cars have a higher interest rate than used cars
New cars have a higher interest rate than used cars
New cars have a lower interest rate until they depreciate
New cars have a lower interest rate until they depreciate
There is no significant difference in loan interest rates between new and used cars
1 answer