Auto Loan Financial Definition

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Posted on December 17, 2018 at 16:14 PM

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What is the difference between an interest rate and the ...
An auto loan’s interest rate is the cost you pay each year to borrow money expressed as a percentage. The interest rate does not include fees charged for the loan.The Annual Percentage Rate (APR) is the cost you pay each year to borrow money, including fees, expressed as a percentage.
Auto Loan | Elements Financial
A: When you have an Auto Loan with Elements Financial, it is required that you carry full coverage that includes comprehensive and collision for the value of the loan. We offer an array of Insurance products and, better yet, when you have your loan with us, you can also insure your vehicle with us.
Car finance - Wikipedia
The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate." The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate."

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