jessies car broke down, and she needs to borrow money to pay for repairs. she wants to use her car as…

jessies car broke down, and she needs to borrow money to pay for repairs. she wants to use her car as collateral for a short - term loan. this type of loan is called a ______\na. payday loan\nb. line of credit\nc. title loan\nd. mortgage

jessies car broke down, and she needs to borrow money to pay for repairs. she wants to use her car as collateral for a short - term loan. this type of loan is called a ______\na. payday loan\nb. line of credit\nc. title loan\nd. mortgage

Answer

Brief Explanations:

A title loan is a short - term loan where the borrower uses the title of their vehicle (like a car) as collateral. A payday loan is typically based on future income, a line of credit is a pre - approved amount of money, and a mortgage is for real estate.

Answer:

C. title loan