Finance companies are more selective in choosing the borrower they serve, and therefore usually charge lower interest rates than banks or credit unions.

Name: Finance companies are more selective in choosing the borrower they serve, and therefore usually charge lower interest rates than banks or credit unions.
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Question

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Finance companies often serve borrowers with poor credit or limited credit history, making them a higher risk. Therefore, they typically charge higher interest rates than banks or credit unions.

Finance Companies Are More Selective in Choosing the Borrower They