auto loans
Car purchase credit
Auto loans are financing arrangements for purchasing vehicles, where the car itself typically serves as collateral.
The borrower makes monthly payments over a set term—commonly three to six years.
She got pre-approved for an auto loan before visiting the dealership.
Auto loans may come from banks, credit unions, or the dealerships themselves.
One who loans money
- borrowerOne who takes temporarily
- creditworthinessAbility to repay debts
- credit scoreNumerical measure of borrower reliability
- preapprovalAuthorization before final commitment
underwriting · credit check · credit union · financial institution · credit history · secured · unsecured · cosigner
Recurring scheduled remittance
- amortizationGradual debt reduction schedule
- installmentPeriodic partial payment
- principalChief school administrator
- interestAttention, stake, or fee
payoff · refinance · default · delinquency · arrears · repossession · balloon payment · prepayment
Wheeled motor vehicle
- SUVRugged passenger vehicle
- truckHeavy freight vehicle
- sedanEnclosed passenger car
- new carRecently manufactured vehicle
used car · certified pre-owned · VIN · trade-in · mileage · depreciation · title · registration
Yearly borrowing cost
- interest rateCost of borrowing money
- fixed rateUnchanging interest percentage
- variable rateAmount that fluctuates
- prime rateBank's benchmark lending percentage
points · compounding · finance charge · origination fee · dealer markup · promotional rate
Discussion seeking mutual accord
- MSRPSuggested retail abbreviation
- invoice priceSeller's acquisition cost
- showroomRetail exhibition space
- salespersonOne who moves merchandise
lender
One who loans money
- borrowerOne who takes temporarily
- creditworthinessAbility to repay debts
- credit scoreNumerical measure of borrower reliability
preapproval · underwriting · credit check · credit union · financial institution · credit history · secured · unsecured · cosigner · debt-to-income ratio
monthly payment
Recurring scheduled remittance
- amortizationGradual debt reduction schedule
- installmentPeriodic partial payment
- principalChief school administrator
interest · payoff · refinance · default · delinquency · arrears · repossession · balloon payment · prepayment · late fee
car
Wheeled motor vehicle
new car · used car · certified pre-owned · VIN · trade-in · mileage · depreciation · title · registration · lien
APR
Yearly borrowing cost
- interest rateCost of borrowing money
- fixed rateUnchanging interest percentage
- variable rateAmount that fluctuates
prime rate · points · compounding · finance charge · origination fee · dealer markup · promotional rate
negotiation
Discussion seeking mutual accord
- MSRPSuggested retail abbreviation
- invoice priceSeller's acquisition cost
- showroomRetail exhibition space
- bankingbank, banks, ATM, ATMs, account
- debtscredit card debt, medical debt, student debt, mortgage, debt
- loanslend, borrow, borrower, lender, microloan
- car salescar dealership, car dealerships, dealerships, dealer, car sales
- Banking servicesmortgages, credit cards, savings accounts, checking accounts, CDs
- credit termscredit limits, monthly payment, credit cards, interest rate, installments
auto loansleasing
Contractual temporary use
upfront payment · subscription services · ride-sharing · car rental
auto loanshome loans
Debt for purchasing property
mortgages · unsecured loans · student loans · mortgage loans · personal loans
loan, auto, automobile, loans, automaton, automotive, autonomic, auto loan