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When Sydney borrowed $8000 from her parents, they made her give them some collateral. What would be the MOST logical thing for Sydney to do to handle their request?

User Arbuz
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1 Answer

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Answer: d) Give them the title to her car.

Step-by-step explanation:

If they want some collateral then Sydney would have to give them collateral and a car is one of the best known examples of collaterals there is.

Sydney can give them the title of the car which means that if she defaults on the loan, her parents will be able to sell the car to get back the amount that they loaned her. She cannot sell the car until she pays them and she may have to add them as beneficiaries to any car insurance that she may have on the car.

User Guildencrantz
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