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Question 2 of 8

Margo wants to purchase a new car. She doesn't have enough in savings to cover the cost, so she decides to look into loans from her bank. How can taking out a loan help Margo with her car purchase?

Select a response:

A. It can help by reducing her total amount of debt.
B. It can help by not requiring any immediate down payment.
C. It can help by spreading out the expense over time.
D. It can help by having no impact on her credit score.

Sagot :

GinnyAnsweridn

Final answer:

Taking out a loan can help Margo by spreading out the expense, not needing an immediate down payment, and reducing total debt.


Explanation:

Taking out a loan can help Margo with her car purchase by:

  • Spreading out the expense over time: By taking a loan, Margo can make manageable monthly payments instead of needing a large sum upfront.
  • Not requiring any immediate down payment: Loans often cover the entire cost, eliminating the need for a significant initial payment.
  • Reducing her total amount of debt: While Margo will owe the loan amount, it may be more feasible for her financial situation compared to paying in full.

Learn more about auto loans here:

https://brainly.com/question/17916444


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