Loan deal in which the actual lender may not be known to the borrower. For example, most automobile purchase loans are not financed by the car dealers (where the car buyers fill out and submit the loan applications) but by a third party. This party (usually a finance company, called the loan owner) is the one that approves the loan terms, receives the loan payments installments from the car buyers, and sues defaulting borrowers.
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- Indirect Loan Definition | Investopedia
Any loan that is transferred from a dealer who originated the loan to a third party. Any buyer of indirect loans is known as a holder in due course and is now ...
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Definition of indirect loan: Loan deal in which the actual lender may not be known to the borrower. For example, most automobile purchase loans are not ...
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Indirect Loan Loan sold by a dealer or a retailer of goods, to a third party financial institution that owns the loan contract as a Holder in Due Course.
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