Loan of a Car (for personal use)

CHF 39.90

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 Why is a Loan of a Car (for personal use) important? 

A car loan is secured against the vehicle you intend to purchase, which means the vehicle serves as collateral for the loan. If you default on your repayments, the lender can seize the auto. The loan is paid off in fixed installments throughout the loan. Much like a mortgage, the lender retains ownership over the asset until you make the final payment.