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09-15-2008, 03:11 AM
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Advice on Auto-Loans
Do you think it is better to take out a personal loan to pay for a car or to take up one of the auto-loans from a bank. I know that the interest rate is obviously the thing to check but what about the other aspects. What happens if you default? Can they only take back the car if it is an auto-loan. Can you sell on a car where the loan is still outstanding to another person or do you need to pay the loan off first?
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10-04-2008, 02:32 AM
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In my opinion it's better to put it in a personal loan. I think the interest would also depend on the amount of the car you want to buy. Personal loans are also less hassle.
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