Types of Credit: Understanding Auto Loans

Unless you're lucky enough to work in a city with great public transportation, you're probably going to need a car at some point in your life. Whether you're going to work or just running out to get groceries, most of us use cars on a daily basis. In this course, we'll talk about how many pay for these cars: taking out an auto loan. We'll discuss how car loans work and go over the different types of lenders available. We'll talk about down payments, loan terms, and making payments. And finally, we'll cover what happens if you're unable to make a payment and what you should do if you're facing that situation.

Keywords: financial literacy, finance, financial, types, credit, types of credit, HSI-ej4