An auto loan is a type of secured credit that allows consumers to borrow money to purchase a vehicle, with said vehicle used as collateral on the loan. Prospective borrowers may apply for an auto loan individually or jointly. Joint borrowers are typically spouses, or a child and a parent. Borrowers repay the loan in fixed installments over a set period, with interest charged on the outstanding balance amount. Defaulting on the loan could cause damage to a person's credit score and impact their future creditworthiness.

Assuming that we are working in the consumer lending modeling team of a hypothetical financial institution and are assigned a task to enhance the current application decisioning process with a focus on providing equal credit lending opportunity to all applicants. We want to build a credit decisioning model based on the Auto Loan applicants' credit quality information. The model will aim to identify the applicants with good credit quality and unlikely to default.