Vehicle Loans

An auto loan allows you to borrow money from a lender and use that money to purchase a car. You’ll have to repay the loan in fixed installments over a set period, and interest will be charged on the money you borrow.

If you have a high credit score, you may be able to qualify for a lower interest rate, which will save you money over time. Your credit score also helps determine the initial loan amount and required down payment.