Answer:
High interest rate
Explanation:
A secured loan is a type of loan that is borrowed with some assets used as collateral in case of any default in the terms of loans by the borrower. This makes the risk to be lower as the issuing party can easily disposed the assets on which it is secured to recover its money in case the borrower defaults.
The reduced risk also reduces the interest rate as the relationship between the two is directly related.
A feature that does not make a secured loan to be less costly than an unsecured loan is a high interest rate.
A secured loan is a loan that is backed by owned assets such as cars, houses and other properties. These assets serve as the collateral over the loan.
The risk associated with this is usually lower for the financial institution that offered the loan. If the loan amount is not gotten back, the properties can be claimed.
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