Secured vs unsecured loans, explained in clear, simple terms. Today I'm helping you understand the similarities and differences between secured and unsecured loans. While both involve borrowing and paying back a specific amount of money over a specific period of time, there are some key differences when it comes to collateral, interest rates, and loan amounts.
0:00 - Intro
0:45 - Similarities
1:29 - Differences
6:14 - Question of the Day
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FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL OR FINANCIAL ADVICE. The information provided in this video and on this channel is for educational and informational purposes only. It is not intended to be a substitute for legal or financial advice that can be provided by your own attorney, accountant, and/or financial advisor. Practical Personal Finance accepts no liability whatsoever for any losses or damages arising from your own personal financial decisions. You are advised to consult with your financial advisor, tax professional, or attorney regarding any and all financial decisions involving your own income and taxes.