Similar to purchasing a house, a vehicle is a huge investment. Although buying a car outright is what many people aim for, most people do require a loan. Car loans are used to help pay for a car over a set period of time, regardless if it’s new or used.
After the initial purchase, the person has to pay off the loan in order to have full ownership of the vehicle. However, with COVID-19 turning the world upside down, you may be wondering how it has affected your auto loan.