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Worldwide Industry for Car Finance to 2027 - Untapped Potential of Emerging Economies


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Car or automobile finance is a sum of money borrowed by consumers to purchase a car. It provides an option to buy vehicles upfront and pay later, in equated monthly installments. In addition, car finance depends on various factors such as income, credit score, and credit history of the borrower. Banks, original equipment manufacturers (captive finance), financial institution, and credit unions are some of the major distribution channel providing car finance solutions. Furthermore, a borrower can specifically apply for a car loan; however, consumers predominately prefer a personal loan for financing cars, which follows most of the same rules and procedures that apply to other loans. ....

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