Car Loan definition

Car Loan means a motor vehicle installment sales contract originated by or assigned to Borrower that is secured by title to, security interests in, or liens on a motor vehicle under applicable provisions of the motor vehicle or other similar law of the jurisdiction in which the motor vehicle is titled and registered by the purchaser at the time the contract is originated.
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Examples of Car Loan in a sentence

  • Car Loan – Used to purchase a vehicle usually with a term of 5 years (60 months).

  • The outstanding Car Loan amount would not include any arrears due to any reasons whatsoever.

  • The claim will be settled only in respect of the Accidental Bodily Injury of the first named borrower (i.e. You) and not in respect of others, which may happen in case the Car Loan is taken jointly.

  • If You meet with an Accidental Bodily Injury during the Policy Period that results in Your death and/or Permanent Total Disability within 12 months, then We will pay You an amount commensurating with Your balance outstanding Car Loan amount existing as on date You met with the Accidental Bodily Injury, subject to a maximum of the Sum Insured shown under the Schedule for this Section.

  • Accident, Accidental A sudden, unintended and fortuitous external and visible event Bodily Injury Physical bodily harm or injury, but not any mental sickness, disease or illness Car Loan The loan disbursed by the Financier to You in respect of the particular car as specified in the Schedule Day Care Treatment Medical treatment undertaken in a Hospital which requires hospitalization for less than 24 hours due to advancement in technology.

  • Loan The commercial Car Loan (governed by the Loan Documents) made by the Company to the Consignor in the aggregate principal amount set forth above, pursuant to which the Car Consignment Auction is financed by the Company.

  • The claim will be settled only in the event of the Accidental death and/or Permanent Total Disability of the first named borrower (i.e. You) and not in respect of others, which may happen in case the Car Loan is taken jointly.

  • The BORROWER hereby acknowledges that, the LENDER has right to reject such proposal of Kotak Car Loan Cover by not offering the said f inancial facility ( proposed to be opted by the BORROWER for the purpose of f inancing the premium) to the BORROWER.

  • For the avoidance of doubt, the Organisation shall not be obliged or entitled to take any action to recover Car Loan and other staff loan debts from Transferring Employees other than by way of reduction from wages.

  • D-1 EXHIBIT E Authorized Officers of Car Loan Co., Inc..................