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21 August, 18:23

Why are car loans always secured with collateral?

O

Banks are unwilling to give out car loans unless the buyer has a big savings account.

O

Car loans build the depreciation of the car's value into the total cost of the loan.

O

Drivers are required to carry collision insurance on leased cars.

O

The car can always be repossessed if the owner stops paying off the loan.

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  1. 21 August, 18:32
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    the answer is that the car can be repossessed if the owner stops paying the loan.
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