Would be able to purchase a vehicle(Auction or dealer) with a personal loan from a bank?
Originally posted 2009-04-12 02:11:46.
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Can you use a personal loan for a auto purchase?
Would be able to purchase a vehicle(Auction or dealer) with a personal loan from a bank?
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Yes you can, you will just have a higher interest rate, and if your buying a car for more than $3000 i would suggest just getting a auto loan.
Yes you can. no more to say
You can, but i would not advise it. Most banks and finance companies that offer personal loans have a somewhat high rate of interest on those loans. They typically range anywhere from 10.99%-24.99%. If you were to get a loan directly from a car dealer, you would get a much better rate.
Andrew C, Try getting an online auto loan quote. The automated questionairre will let you know if you can be approved. It’s free and you can get an answer in minutes.