David wynn gets an auto loan from his credit union for $10,000. david will make monthly payments over the next four years to repay the loan. what type of financial service is david using?

The answer is borrowing service or loaning service. Borrowing servicing is the procedure by which an organization gathers intrigue, chief and escrow installments from a borrower. It is a level of each home loan installment made by a borrower to a home loan servicer as remuneration for keeping a record of installments, gathering and making escrow installments, passing essential and intrigue installments along to the note holder, and so forth.