financial institution that makes loans using a borrowers car as collateral is called a ____. a. credit union…

financial institution that makes loans using a borrowers car as collateral is called a ____. a. credit union b. retail bank c. payday lender d. title pawn lender

financial institution that makes loans using a borrowers car as collateral is called a ____. a. credit union b. retail bank c. payday lender d. title pawn lender

Answer

Brief Explanations:

A title - pawn lender is a financial institution that makes loans using a borrower's car (specifically, the car title as collateral). Credit unions, retail banks, and payday lenders do not typically use car titles as collateral for loans in the same way.

Answer:

D. title pawn lender