You receive funds from a lender and pay that lender back over time with interest when you get a motor vehicle loan.

You receive funds from a lender and pay that lender back over time with interest when you get a motor vehicle loan.

  • Banking institutions and credit unions, including both state and federally chartered banks and credit unions, will generally provide automotive loans. The DOB encourages one to consult your standard bank through the procedure for searching for a car loan or through the stage that is pre-approval. Banking institutions and credit unions typically don’t provide a questionable environment and may even provide more competitive costs.
  • Non-Bank loan providers, including large car dealers and tiny lenders targeting the sub-prime market, should be correctly certified by the Division of Banking institutions. Continue reading “You receive funds from a lender and pay that lender back over time with interest when you get a motor vehicle loan.”