Why does it take a few hours to finance a $100k auto loan, but 30+ days to finance a $100k mortgage?
In: Economics
30 year note with an asset that can’t be picked up in a trailer versus a 5ish year note collateralized by something you can take back over night so less risk on a vehicle. Plus no appraisal, inspection, title work, survey, 3rd party closing on a car note.
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