In the early 1900s,banks did not offer loans to purchase automobiles.This is because

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In the early 1900s, banks were hesitant to offer loans for purchasing automobiles because they did not view cars as productive assets. Unlike real estate or business loans, which were seen as investments that could generate income or appreciate in value, cars were considered luxury items that depreciated quickly. This perspective made banks wary of offering loans for their purchase.

In the Early 1900s,banks Did Not Offer Loans to Purchase