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In this video tutorial, the speaker discusses how to properly read a promissory note, particularly for those entering into auto loan agreements. He emphasizes the importance of understanding the terms and agreements before getting excited about purchasing a vehicle. After application approval, individuals may receive a draft check from their lender, such as a Federal Credit Union or major banks like Chase and Wells Fargo. This highlights the need to be aware of the potential consequences and responsibilities that come with an auto loan, suggesting that understanding the contract is crucial before proceeding with the vehicle purchase.