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Online loan quotes give you an idea of the cost of the loan. After taking the loan quotes compare these loan quotes with the rest of the lenders and settle on a cheap loan. The possibility of finding economic uses is simpler and more effective.
Some examples are car loans and home loans, where the lender is the owner of the car or home until it is completely repaid. A secured open end loan is often called a credit line. This type of loan is secured with a deposit of liquid or a good. An example is a home equity line of credit where you use equity in your home to get a loan.