Car loans finance a borrower to buy or lease a car whether old or new. It's a high interest loan in which borrower uses their auto mobile as collateral for loan. Car title loan typically have annual interest rates above 100% and require repayment within the first month. These loans are made for much less than the true value of the car. car loans are typically given without regard to borrowers' ability to repay or credit history. In addition to the common HP (Hire Purchase) type of car loan agreement, car finance is available in the form of a PCP (Personal Contract Purchase) agreement. This is where a proportion of the repayment is deferred to the end of the agreement in order to reduce the monthly payments. At the end of the agreement one can normally choose to buy the car at the agreed value, hand it back to the dealer or part exchange it for a new car. Car loan is secured on the car itself so if one default on payments one's car could be taken away by lender. Auto Loan,bad credit car loan are also included in car loans.

Bad credit car loans:-

These loans are offered to loan seekers who wish to buy or lease a new car or used car. These are made available to borrowers without keeping their credit status in regard. Loan facility is open to borrowers with good,bad or no credit. The interest rate on this loan for people with good credit is low.