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Unformatted text preview: Amount/ accident Property damage o Determines Auto Insurance Cost Type of Car How is the car used Driver characteristics Driving record Where you live Discounts Credit score o Lender requirements Comparison shop Less Claims Discounts Buy your car with insurance in mind Improve your driving record Raise the deductibles October 5, 2010 Notes • Chapter 7 Consumer Loans o Single Payment loans o Installment Loans – Series of payments o Loans can be secured or unsecured, Secured loans have collateral, unsecured does not have collateral o Loans can be a fixed rate or a variable rate o Rates fluctuate with the economy • Home Equity Loan (second mortgage) o Installment o HELOC – Home equity line of credit o Advantages – Lower Int Costs o LOC option provides flexibility o Tax deductions o...
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This note was uploaded on 04/27/2011 for the course FIN 101 taught by Professor Daly during the Spring '11 term at Salt Lake Community College.
- Spring '11
- Personal Finance