Home
/
Business
/
Which Best Describes the Difference Between Secured and Unsecured Loans? Select a Response. Secured Loans Require Collateral While

Question

Which best describes the difference between secured and unsecured loans? Select a response. Secured loans require collateral while unsecured loans do not Secured loans usually have higher interest rates than unsecured loans Secured loans do not appear on your credit report, while unsecured are reported Secured loans have more flexible payment plans than unsecured loans

Solution

Expert Verified
4.6 (251 Votes)
Matthew Elite ยท Tutor for 8 years

Answer

Secured loans require collateral, while unsecured loans do not.