Which type of credit is usually used for cars, mortgages, and student loans? consumption credit installment credit secured credit cards service credit

This looks like a trick question. Homes and Automobiles are Secured Credit, as the contract provides an avenue for remedy (if you don't pay they will take it back). However, Student Loans are unsecured credit. They will all be paid off in "installments" or payments. That's about all I got...

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barmansuraj489 barmansuraj489 · Answer 2 · 2022-05-27T11:12:09-04:00

For Cars and Home mortgages usually we can see that Secured credit is used. But for Student Loans Unsecured credit is used.

What is secured credit and what is unsecured credit?

Secured Credit is when Credit is given by the Lender in exchange of valuable asset is given by the Colletral or the borrower.

Unsecured credit is when the credit is not guarenteed by the borrower or the colletral. In this there is no credit that has to be put , like any deposite, to get it aproved.

For more information on Credit refer:

https://brainly.com/question/2872411

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