Final answer:
Option (A), A title loan requires a vehicle as collateral. This is different from payday, merchant, and peer-to-peer loans, which do not typically require such collateral.
Step-by-step explanation:
The loan that would require Clarissa and Carlos to use their vehicle as collateral is known as a title loan. Title loans are secured by the title of a borrower's vehicle and typically have shorter repayment periods and higher interest rates compared to other types of loans.
In contrast, a payday loan is usually a small, short-term loan that is not backed by a physical asset, a merchant loan could refer to financing received by a business for operational purposes, typically secured by the business's assets, and a peer-to-peer loan is a personal loan funded by individual investors rather than financial institutions, which doesn't generally require collateral like a vehicle.