A deferred car loan is like a regular personal car loan but with a major difference. The repayments for a portion of the car loan are spread over a defined period, leaving the remainder of the loan deferred to be paid off at the end of the term. The period of the deferred loan is usually between one and four years. The proportion of the car loan that can be deferred drops as the loan period increases. At the end of the term you can either pay off the remainder and keep the car; sell the car and use the proceeds to pay off the remaining debt;or take out a further loan to pay for the remainding amount
Deferred car loans are ideal if you want to keep your monthly payments to a minimum, but there is a risk that the car will depreciate faster than your rate of repayment and hence be worth less that the outstanding debt at the end of the term. If that occurs you would need to make up the shortfall that is left.