4 ms·

Securedness is a property of the loan, not of the thing you used the loan to buy.

• mattkrause 8y ago
  Sure, but loans for tangible property can usually be secured by the thing itself (assuming it doesn't deprecate, etc), so I think tangible thing==>secured loan is not a crazy rule of thumb. Assuming you could talk a lender into taking the risk, I see no reason you couldn't get an unsecured loan for a car. Obviously, you could put up collateral to secure any sort of loan too.
  • taejo 8y ago
    It's not a crazy rule of thumb at all, but you're more likely to buy jewellery with a credit card than a secured loan.