At Car Loans of America we provide car loans for people that are looking to purchase a pre-owned or a new vehicle. At Car Loans of America, getting a car or auto loan is not different from the way getting other loans work. You get cash to purchase the vehicle after agreeing on how to pay the borrowed amount with interest. Pay in installments on a monthly basis and repay the loan fully. The payment is usually monthly until the whole loan has been fully paid off. Most times you need collateral to get a car loan since it is not a secured loan.