Auto

The Auto loans category provides information on loans used to purchase new and used vehicles. These are secured loans, meaning the vehicle being purchased serves as collateral for the loan. If the borrower defaults, the lender can repossess the vehicle. Auto loans have terms from 12 to 84 months typically and interest rates ranging from 3-20% depending on credit score. They may require a down payment and usually have limits on the vehicle's age and mileage. This section covers topics like auto loan requirements, terms and conditions, interest rates, credit score needed, and how to get approved.