Most secured loans are not _____.

Mathematics

1 answer:

ozzi1 year ago

6 0

Most secured loans are not <u>high-interest</u><u> </u>loans and they are usually backed by collateral.

<h3>What are secured loans?</h3>

Secured loans demand the borrower to dedicate an asset or security as an assurance or collateral for the loan in order to get it.

For example:

A mortgage on a house or
An auto loan.

Secured loans are often long-term loans; e.g, the average period of a house loan is 30 years, whereas vehicle loans run 4-5 years.

These kinds of loans are often repaid in monthly installments and have low-interest rates.

Learn more about secured loans here:

brainly.com/question/14997152

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