Personal Or Auto Loan. With competitive rates and flexible payment options, we can. It is easier to qualify for an auto loan.
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A personal loan can be used for anything, but a car loan is designed exclusively for car purchases. By and large, auto loans may have a lower interest rate than personal loans. Auto loans usually have lower interest rates.
As such, car loans are.
Auto, boat, motorcycle and recreational vehicle loans. Personal loans and car loans are both options when purchasing a vehicle, but car loans are usually the better choice because they tend to be less expensive. Personal loans carry higher interest rates than auto loans. That’s mostly due to the security built into the auto loan.