
Vehicle Loan
A vehicle loan, also known as an auto loan or car loan, is a financing option that enables individuals to purchase a vehicle by borrowing money from a lender. The borrower applies for the loan, and if approved, receives funds to buy the vehicle. The loan terms include the principal amount, interest rate, and repayment period. The borrower makes monthly payments that include both principal and interest, gradually reducing the loan balance. The vehicle serves as collateral for the loan, and if the borrower defaults on payments, the lender can repossess the vehicle. Once the loan is fully paid, the borrower becomes the sole owner of the vehicle.



Near Nagaraja Coil,
Nagercoil - 629 001

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