Finance Program
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A finance program for vehicles enables individuals to purchase a vehicle by obtaining a loan from a financial institution. This loan covers the cost of the vehicle, and borrowers repay the loan amount plus interest over a predetermined period. The terms of the loan, including the interest rate and repayment period, vary based on factors such as the borrower's creditworthiness, the loan amount, and the lender's policies. Unlike leasing, where the individual does not own the vehicle, financing allows the borrower to own the vehicle outright once the loan is fully repaid.
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