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<insert witty title here>
Join Date: Nov 2004
Location: Hamilton, Ont.
Posts: 7,000
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Unsecured simply means there's no collateral put up to secure the loan. For a secured loan, one would usually put something like their car or house up for collateral, and the lender would place a lien/mortgage on it. That way the lender is secured if the loan goes into default.
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Current: 1987 911 cabrio
Past: 1972 911t 3.0, 1986 911, 1983 944, 1999 Boxster
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