What is a secured loan?

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asked Jan 20, 2018 83.5k views

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Leonardo Deleon · Answer 1 · 2018-01-21T10:00:26+0000

A secured loan, is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.

What is a secured loan?

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