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Auto Loans
Learn the basics of auto loan products and services.Preview the first lesson free — get full access to all 10 lessons.
Beginner Provider : KnowledgeCity 4 chapters · 10 Lessons · 24m in Arabic, English, Spanish
Course Description
Auto loans are the third largest category of outstanding household debt, behind mortgage and student loans. This course is designed to teach you the fundamentals of Auto Loan products and services offered at many banks around the world. By the end of this course, you will be able to explain the auto loan market structure, auto loan basics including: underwriting and interest, as well as bank leases, refinancing, and repossession.
What You'll Learn
- Explain the auto loan market structure and how it ranks among household debt categories
- Distinguish banks and credit unions from non-bank lenders, and direct from indirect lending channels
- Describe auto loan underwriting and how interest applies to auto loans
- Explain the roles of co-signers and auto loan credit insurance
- Outline bank leases and refinancing options for auto loans
- Describe the repossession process and binding arbitration
Key Takeaways
- Auto loans are the third largest category of outstanding household debt, behind mortgage and student loans.
- Auto loan products and services are offered at many banks around the world.
- Auto loans can be obtained through banks and credit unions as well as non-bank lenders, via direct or indirect channels.
- Auto loan fundamentals include underwriting and interest, along with bank leases, refinancing, and repossession.
- Co-signers and auto loan credit insurance are elements covered within auto loan products.
Frequently Asked Questions
What will I be able to do after completing this course?
By the end of the course you will be able to explain the auto loan market structure and auto loan basics, including underwriting and interest, as well as bank leases, refinancing, and repossession.
What topics does this course cover?
The course covers the fundamentals of auto loan products and services, including banks and credit unions versus non-bank lenders, direct versus indirect channels, underwriting, interest, co-signers, auto loan credit insurance, bank leases and refinancing, and repossession and binding arbitration.
What skills will I gain from this course?
The course develops skills in automotive finance, automotive loans, dealer finance, loan documentation, loan underwriting, and loans.
What is the purpose of this course?
The course is designed to teach you the fundamentals of auto loan products and services offered at many banks around the world.
