What is another word for car loan?
Pronunciation: [kˈɑː lˈə͡ʊn] (IPA) 
Car loan refers to the financing option that a borrower can avail to purchase a vehicle. However, there are several other terms that can be interchangeably used to refer to this type of loan. For instance, auto loan, vehicle loan, or car finance are all synonyms for car loans. These terms are widely used in the lending industry and can be found in the loan agreements or contracts. Furthermore, banks, credit unions, and other financial institutions offer these loans to eligible borrowers at varying interest rates. Regardless of the terminology used, the primary purpose of these loans is to enable borrowers to purchase a car they might not otherwise be able to afford.
