267,590 views
26 votes
26 votes
Gene is looking for a loan so that he can buy a car. There are a few different banks where he can apply for a loan. What should he be looking for in a loan?

OA. a low interest rate
OB. a good credit score
OC. an open line of credit
OD. a differed payment plan

User Prakash Panjwani
by
2.6k points

2 Answers

29 votes
29 votes

Answer: Its A. A low Interest rate

Step-by-step explanation:

User Romey
by
3.2k points
20 votes
20 votes

Final answer:

When looking for a loan to buy a car, Gene should consider factors such as a low interest rate, a good credit score, an open line of credit, and a deferred payment plan.

Step-by-step explanation:

When looking for a loan to buy a car, Gene should consider several factors:

  1. A low interest rate: A low interest rate means that Gene will pay less money in interest over the life of the loan. This can save him a significant amount of money.
  2. A good credit score: A good credit score will help Gene qualify for a loan and get a better interest rate. Banks typically offer lower interest rates to borrowers with higher credit scores.
  3. An open line of credit: An open line of credit means that Gene can borrow more money in the future if he needs to. It provides him with flexibility.
  4. A deferred payment plan: A deferred payment plan allows Gene to postpone making payments for a certain period of time. This can help him manage his finances more effectively, especially if he needs time to save up for the loan.

User Ordag
by
2.9k points