Question

select all that apply
which of the following are examples of consumer loans?

automobile loan

line of credit

furniture loan

mortgage

Explanation:

Consumer loans are funds borrowed by individuals for personal, family, or household purposes.

• Automobile loans are for personal vehicle purchases, a consumer use.
• A line of credit can be used for personal, household expenses, qualifying as a consumer loan.
• Furniture loans are for personal household furniture, a consumer expense.
• Mortgages are for purchasing a primary residence, a personal household asset, so it is a consumer loan.

Answer:

• automobile loan
• Line of credit
• furniture loan
• mortgage