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But personal loans are another option worth considering, as they can be used to purchase a vehicle.
For both, terms depend on the lenders requirements and the borrowers credit history andcurrent financial situation.
Personal Loan vs. Auto Loan Whats the Difference?
There are a few key differences between personal loans compared to auto loans.
Should You Use a Personal Loan to Buy a Car?
Its important to compare interest rates, repayment terms and total loan costs before deciding.
And remember: You dont just have to get an auto loan through the car dealership or seller.
There areplenty of lendersonline, and you could check your bank or local credit union, too.
you might always get prequalified before you kick off purchasing so you have time to research and decide.
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