Loans made to consumers by finance companies are typically

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Loans made by finance companies are typically at higher interest rates than those charged by banks for the same type of loan. This is because finance companies tend to serve customers with lower credit scores or those who may not qualify for a bank loan, so the higher interest rates help to offset the risk of default. Finance companies may offer loans for a variety of purposes, not just for the purchase of cars or boats. The loan amounts may vary depending on the company and the borrower's creditworthiness.

Loans Made to Consumers by Finance Companies Are Typically