Auto loan

A car loan is a loan aimed at financing the purchase of a new or used car. It falls into the category of consumer credit. Subject to acceptance, this type of ready is triggered when purchasing a motor vehicle and cannot be used to purchase another good, just like the credit motorcycle. We then speak of assigned credit.

Unlike a personal loan, a car loan is not intended to strengthen cash flow in any situation. A car loan or car loan is therefore better perceived by a banker than the personal loan. Indeed, the banker is assured that the amount loaned finances a very specific life project.