Car finance is a term that covers various options to help you buy a car (either new or second-hand), which usually involves an initial deposit and then regular installment payments. Car finance can include diverse options, such as taking a loan, leasing, or hiring purchase agreements.
A car loan, on the other hand, is a narrower term – one of the many car finance options available. In fact, car loans are among the most popular financing options to buy a car. For example, if you get a loan from a bank, you receive the money in your account and then start paying regularly to the car dealer of your choice.
That said, nowadays, car dealers can also provide financing options directly to their customers via customizable and straightforward loan management solutions, such as those provided by Tarya Fintech.