Should You Choose Unsecured Auto Loan over a Secured One?
Basically, an unsecured loan is one that does not demand collateral from the borrower. In case of secured auto loans, the vehicle itself is taken as collateral and if you are unable to repay the loan, the lender has all the right to seize your car. On the other hand, an unsecured auto loan is given on the basis of the borrower’s credit score and financial history.
08 May 20195 min read