Automobile Loan (Noun)
Meaning
A personal loan to purchase an automobile.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The bank provided her with an automobile loan to buy her dream car.
- His automobile loan had an extremely low interest rate due to his excellent credit history.
- When comparing lenders for an automobile loan, you should also consider their insurance options.
- Applying for an automobile loan can be done online and some lenders provide instant pre-approval.
- An automobile loan with a long repayment term may result in more paid interest over the years.