Which of the following forms of consumer credits is the cheapest and offers tax shelters?
A) Automobile loans
B) Home equity loans
C) Credit cards
D) Unsecured personal credit
E) Travel and entertainment cards

Question

Quizplus · Accepted Answer

Home equity loans are the cheapest and offer tax shelters because the interest paid on the loan is tax-deductible. Additionally, the loan is secured by the borrower's home, which means that the interest rates are usually lower than other forms of consumer credit.

Which of the Following Forms of Consumer Credits Is the Cheapest