BOA – Buying a Car Non-Profit

Buying a car? Here are the key terms to know about auto loans

Buying a car can leave you feeling like auto dealers are speaking a whole new language when they talk about things like a down payment, depreciation, direct lending or dealer financing. Follow this map to understand these terms and learn how financing a car can impact your budget.

Check out this infographic, then return here to answer a quiz question to continue!

About Kevin Smith

Kevin is the content manager for Personal Finance Lab and is from Chicago, Illinois. He has a Master's Degree in Economics from Concordia University in Montreal, Canada. In addition to an economics background, he has also built training manuals to prepare finance companies for licensing requirements in mortgage loan origination and insurance sales.