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Common Auto Loan Terms You Need to Know About

It is difficult to get the best deal on a car loan in Williamsville if you aren't aware of key loan terms. For instance, you will need to be aware of a loan's term because it will influence how much interest is paid to the lender. In the context of a loan, term refers to how long you have to repay it.

The finance charge is the interest portion of each payment made to the lender. Interest rates are determined by your creditworthiness, which is an assessment of how likely you are to repay the loan.



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