certificates of automobile receivables (CAR)


A short-term bond, certificate of deposit, debenture, or commercial paper that is backed by automobile loans. Once lenders sell the automobile loans to the public, they use the proceeds to fund additional lending. Investors also receive a moderate amount on interest income.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
certificates of accrual on treasury securities (CATS) certification