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| *Loan,banking and credit>>>auto loan |
What is a auto loan? |
What is a auto loan? An automatic loan. A car loan. A loan that you get in order to pay for a vehicle. Generally it lasts for 36 months or more, usually for no more than 84 months at the very most. it is a loan you make with either a bank or credit union and the back pays for the vehicle so you can buy it. the term auto loan comes from the tow words..automotive ( meaning car or vehicle ) and the word loan ( meaning to borrow money for something ) hence auto loan.. also you have to automatically pay it each and every month until it is paid for or the bank comes an takes it back from you, usually the loan term is between 3 years and 5 years long.. |
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