Answer:
An Auto loan
Explanation:
When you owe on your Car, motorcycle or any sort of vehicle it is tagged an Auto loan. an Auto loan is a kind of loan financed by a financial institution licensed by the Government to provide loans to its customers or to the general public that covers the purchase of a vehicle which also includes Motorbike and other kinds of automobiles.
Financial institutions who offer such loans also charge an interest rate on the loans and in some case might require a collateral to approve such loan for the individual who needs the loan.
