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Legally, an indirect “loan” is not technically a loan; when a car buyer obtains financing facilitated by a dealership, the buyer and dealer sign a Retail Installment Sales Contract rather than a loan agreement. The dealer then typically sells or assigns that contract to a bank, credit union, or other financial institution.
Download as PDF; Printable version; ... when a customer submits an application for credit from a ... An auto loan is a good example as the cardholder is generally ...
A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their vehicle title as collateral. [1] Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. [2]
A bad credit auto loan works just like any other auto loan. The only difference is the recipient’s credit score, which impacts the terms for which the borrower qualifies. Drivers with credit ...
Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates its financial program through a national network of dealer-partners, the automobile dealers participating in the programs.
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It is interest accrued on, and fees charged for, some forms of credit. [1] It includes not only interest but other charges as well, such as financial transaction fees. Details regarding the federal definition of finance charge are found in the Truth-in-Lending Act and Regulation Z , promulgated by the Federal Reserve Board .
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