Car Loans

Car Loan (also auto loan, car financing): A car loan is simply a contract between you and a lender where they agree to provide you with the cash to buy a new or used car, and you agree to pay the money back over time.

Unless you get a zero percent financing deal, you'll have to pay interest each month on the loan balance. Some lenders will also charge you a loan fee.

Until you completely pay off the loan, the lender will hold the title to the vehicle.