Auto Loans

What is a Auto Loan?

An auto loan is a type of loan specifically designed to finance the purchase of a vehicle, such as a car or truck. In an auto loan agreement, the borrower receives funds from a lender or financial institution to purchase the vehicle. The borrower then repays the loan amount plus interest over a set period of time, usually in monthly installments. The vehicle itself often serves as collateral for the loan, meaning that if the borrower fails to repay the loan as agreed, the lender may repossess the vehicle to recover the outstanding debt.

We specialize in auto loans up to $1000.