Person loans
When buyer pays a portion of the purchase price with own money? ( What type of payment)
down payments
A long term rental agreement is called a....
LEASE
What are the three type of loans ?
Secured, unsecured, collateral
What does FASFA mean?
Free Application for Federal Student Aid
This type of person loan process happen when someone has yet to establish credit but would like to take out a loan? They need a......
Co signer
This type of loan involves 2 people applying
What is joint application.
The name of this loan has some sort of asset pledged against the loan so that the lender is assured of ending with some sort of valuable asset?
What is a SECURED LOAN
What tool can you use to compare cost with expected income?
Occupational Outlook Handbook
A rate that factors in all the financing cost for the borrowers is called?
Annual Percentage rate
Are you required to maintain insurance on your car?
YES
( it protects the loss associated with unexpected events such as car crash)
This type of loan is secured by the asset pledge, that can be resold to pay back the loan
COLLATERAL
What are other good sources of information to consider a profession as a career?
People, family and friends
Maturity date
YES
Which loan make someone both parties liable if the loan is not paid off ?
all three
What other funding sources can you use for school?
Education savings account
What type of application would you need to fill out to apply for a loan?
LOAN APPLICATION
Coverage that covers you against any damages that you to do other property is called?
Liability Coverage
This type of loan requires no collateral
What is an unsecured loan
What are the 2 type of federal loan can you receive for school called?
Federal loans (subsidize and unsubsidized )
Perkins loans