IS THERE ANY BENEFIT BY HAVING A SECURED LOAN COMPARED TO AN UNSECURED LOAN?
This depends on the terms of the loan, however in general, many lenders will only grant a loan when security for the loan is provided (in other words it can be easier to obtain a loan with security-particularly in cases of adverse credit) secured loans generally offer more flexibility in loan repayment terms, but most importantly the interest rate on secured loans is generally much lower than unsecured loans.
