Answer:
An Auto loan
Step-by-step explanation:
An Auto loan is a type of loan/debt incurred by an individual or a group or even an organization or Government used for the purchase of Automobiles such as cars, buses, motorbikes and other kinds of automobiles in the market for the purpose of useage.
Auto loans a re been issued by Financial institutions licensed by the Government to carry out such functions to its customers and also to the general public especially to people who are qualified for such loans. in some cases a collateral is required before such loans can be issued out.