Question

true or false question
true or false: in most cases it is less expensive to borrow money using your gic as collateral for a loan than if you use your used car.
true
false

Explanation:

A GIC (Guaranteed Investment Certificate) is a low-risk, stable asset with a fixed value, making it very secure collateral for lenders. A used car is a depreciating asset with higher risk of loss in value and more uncertainty for the lender. Lenders charge lower interest rates for loans with lower-risk collateral, so borrowing against a GIC is cheaper than using a used car as collateral.

Answer:

True