Respuesta :
Mortgages and car loans. For example, if a customer fails to repay an auto loan, the bank may seize the vehicle as compensation.
Answer:
Closed end credit is a loan for a stated amount that must be repaid in full by a certain date. Closed end credit has a set payment amount every month. An example of closed end credit is a car loan. Another source of credit is credit card companies like visa, mastercard, American express, and discover.
