2007-05-27 23:20:08 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Yes, there are different types of auto loans. By auto loan, we mean that the loan is secured, that is, the vehicle is used as collateral should the debtor default. Moreover, the creditor (lender) places a lien on the title to the vehicle such that the vehicle cannot be sold without completely satisfying the creditor first, legally and financially. The two main classes of secured auto loans are (1) those for purchasing a vehicle and (2) those for refinancing a vehicle.
2007-05-28 00:56:17 · answer #1 · answered by VT 5 · 0⤊ 0⤋
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2016-09-30 16:50:07 · answer #2 · answered by Eleanor 3 · 0⤊ 0⤋
No. There are different loan rates and different payoff periods. But the rules are the same, you borrow money then pay it back with interest.
2007-05-27 23:23:30 · answer #3 · answered by regerugged 7 · 0⤊ 0⤋
I was on the same situation and this site helped me HTTP://HELP.CREDIT-SOLUTIONS.INFO
RE Are there different types of auto loans?
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2014-09-11 07:00:48 · answer #4 · answered by Franchot 1 · 0⤊ 0⤋
vehicle finance is what I do for a residing and there are various a thank you to finance a vehicle. there is the classic finance the place people pay an identical quantity each month for the term agreed. there is the farm plan the place people basically pay as quickly as a twelve months. There are various rentals.
2016-12-12 04:05:08 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Before any college loan consolidation you need to understand how things work try this site for starters.
http://www.loans.tohelpyou.info/refinance/Refinancing.html
2007-05-29 00:53:37 · answer #6 · answered by Leonardo C 1 · 0⤊ 0⤋