An auto loan allows someone to borrow money to purchase a car or truck.Auto loans are usually simple-interest loans that are to be paid back over a period of typically three or five years.
The Car Allowance Rebate System (CARS), also known as "cash for clunkers," was a U.S.federal government funded program that provided economic incentives for people to purchase a more fuel-efficient car when trading in their old, less fuel-efficient car.
A car title loan is a short-term loan where a borrower uses the title of his or her car as collateral for the loan. Loans for car title loans are usually for less than 30 days and change a high rate of interest.
Collateralization occurs when a company pledges an asset to a lender (usually in return for a loan).The lender has the right to seize the collateral if the borrower defaults on the obligation.
A death spiral is a kind of loan investors provide to a company in exchange for debt that can convert into stock, typically at below-market share prices. Let's say Company XYZ is running low on cash and needs $1 million in capital.
A junior mortgage is a loan secured by the equity in a house.Equity equals the value of the house less the balance owed on the homeowner's first (or in some cases, preceding) mortgages.
There comes a time in everyone’s life where they need to finance a major purchase.It may be a car loan, a line of credit for a business, or even the cornerstone of the American dream: a home loan.
Money factor represents the interest you pay when you lease a car.It is included in your monthly lease payment.
A pledged asset is collateral pledged by a borrower to a lender (usually in return for a loan).The lender has the right to seize the collateral if the borrower defaults on the obligation.
A signature loan is a loan offered by banks or other financial institutions that does not require collateral.Signature loans are also known as personal or unsecured loans since they are not secured by anything beyond trust that the borrower will pay it back.
For the majority of Americans, taking on a student loan is a requirement to pay for college.A 2019 report estimated that 43 million American adults have federal student loans – with a combined total balance of $1.5 billion.