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Auto Loan (Noun)

Meaning

A personal loan to purchase an automobile.

Classification

Nouns denoting possession and transfer of possession.

Examples

  • Applicants with excellent credit often qualify for lower interest rates on their auto loans, saving them money over the life of the loan.
  • To secure a low-interest auto loan, borrowers may be required to make a significant down payment on the vehicle.
  • You can obtain an auto loan directly from a bank, credit union, or other financial institution, or through the dealership where you purchase the car.
  • Many auto loan lenders offer flexible repayment terms to accommodate the varying financial needs of their clients.
  • Borrowers should carefully review the terms of their auto loan before signing the agreement to avoid hidden fees and charges.

Synonyms

  • Automobile Loan
  • Car Loan

Hypernyms

  • Personal Loan
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