When you set out to buy or lease a vehicle, you ought to understand the following key auto finance terminologies:
- Underwriting – This is the method by which a financial organization determines whether or not to grant credit to a prospective borrower.
- Unsecured Loan – A loan that doesn’t require any collateral to get accepted. Income of the borrower and the credit history are used to determine whether a borrower is eligible for the loan.
- Warehouse Facility – this is a short-term revolving credit
