(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
There is no significant difference in loan interest rates between new and used cars
1 answer
Used cars generally have a higher interest rate than new cars. This is primarily because lenders view new cars as less risky investments since they have a higher resale value and typically come with warranties. Therefore, the correct response is:
Used cars have a higher interest rate than new cars.
