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Definitions from WordNet

Definitions from the Web

Car Loan

Description

A car loan is a type of loan obtained from a financial institution or lender to purchase a vehicle. It provides borrowers with the funds needed to buy a car while allowing them to repay the loan in installments over a specified period. Car loans are commonly used by individuals who do not have sufficient funds to buy a car outright.

Senses and Usages

1. Noun: A loan obtained to finance the purchase of a car.

Example Sentence: She decided to apply for a car loan to buy her dream car.

2. Noun: An agreement between a lender and borrower where the borrower pledges their car as collateral against the loan.

Example Sentence: The bank approved his car loan after assessing the value of the vehicle he was pledging.

3. Noun: The act of providing financial assistance or loan specifically for purchasing a car.

Example Sentence: The car dealership offered attractive car loan options to prospective buyers.

Related Products

• Car Loan Guides
• Auto Finance Books
• Car Loan Calculators