Banking
Auto Loan Disbursement
Funding a 5-year vehicle loan with payment going directly to the dealership.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Consumer Auto Loans | Asset (+) | 25,000.00 | - |
| Cash / Dealership Account | Asset (-) | - | 25,000.00 |
💡 Accountant's Note
Auto loans are typically disbursed directly to the dealership, not the customer. The bank holds a lien on the vehicle as collateral. The vehicle registration is in the customer's name.
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