![]() As you repay the principal, you build equity until-by the end of the loan-the car is all yours. The higher the interest rate, the higher the payment. A chunk of each payment is put toward paying interest on the loan and the rest is used to pay down the principal. You borrow money from a bank, credit union, or other lending institution and make monthly payments for some number of years. ![]() Buying a vehicle with a conventional car loan is pretty straightforward.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |