automotive financing

Automotive financing is a method of purchasing a vehicle through a loan or lease, rather than paying the full amount upfront. When you finance a car, a lender—such as a bank or dealership—provides the funds, and you agree to pay back the amount over time in monthly installments, often with added interest. This allows you to afford a vehicle while spreading out the cost. The terms, interest rates, and duration of the loan vary based on factors like credit score and loan amount. Once all payments are made, you own the vehicle outright.