automobile loan
noun phrase
Pronunciation: ˈɔːtəməbiːl loʊn
Definition
A sum of money borrowed from a financial institution to purchase a vehicle, which the borrower agrees to repay with interest over a set period.
Examples
The bank approved his automobile loan within twenty-four hours.
High interest rates can make an automobile loan significantly more expensive over time.
She decided to pay off her automobile loan early to save on interest payments.
Synonyms of automobile loan
Words with a similar meaning to automobile loan:
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