About Auto Loan
Well, an auto loan is basically a loan that you take out in order to purchase a vehicle. With an auto loan, you are not paying on the depreciation of the vehicle like you do with a lease. You are paying on the vehicle purchase price plus interest. You can take vehicle loan from bank , finance company or other resources. Everywhere may be different interest rates
Buying a vehicle may be right for you if:
1. You have the money to make a significant down payment (20% or more).
2. You would like to be able to trade in your vehicle.
3. You want to establish partial equity.
4. You prefer to own your vehicle.
5. You are tough on your vehicles and don't want to worry about wear and tear charges.
6. You don't need to switch cars every two or three years.