[kazinator]

> an unsecured line of credit is going to have a higher interest rate than loan backed by the collateral of the car.

That depends on who you are and what you have, from the bank's POV. If they are actively bugging you to take out this kind of loan, then they probably don't have an issue regarding collateral.

A car is not particularly good collateral; it depreciates rapidly, subject to being damaged and stolen.

[sonotathrowaway]

Houses make good collateral. You can’t pick up a house and move it to hide it from the repo man.