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Why is having a high credit score is not really a great thing. A high score shows you have debt but you pay it.
What is collateral? It is something you give up to a lender that they can take if you don't pay your loan.
What is the danger of putting up collateral for a loan? It could be taken from you don't pay.
What is the difference between appreciating asset and a depreciating asset? Give example. An appreciating asset gains value like a house. A depreciating value loses value like a car.
What is the snowball method? It is when you order your debt small to big and pay it off in that order.
What is a secured loan? A loan you have to give up collateral for
What is leasing? you make payments but won't own the car
What could get you in trouble with a lease? going over the miles
Created by: scomisky
 

 



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