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What is the difference between a mortgage and a car loan?

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    1. A mortgage is like a long-term loan for buying a house. You pay a bit every month for many years. On the other hand, a car loan is money you borrow to buy a car. You pay it back in monthly chunks, usually over a few years. In simple terms, one's for your home, and the other's for your car.

      A mortgage is like a long-term loan for buying a house. You pay a bit every month for many years. On the other hand, a car loan is money you borrow to buy a car. You pay it back in monthly chunks, usually over a few years. In simple terms, one’s for your home, and the other’s for your car.

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