Ok, i am buying a car off a family member, There lease is up on there G35 and he asked me if i wanted to buy out his lease for $21,000. I sayed im deffinatly intersted.
My problem is that i dont know if i should get personal loan or an auto loan. What loan type usaly has a lower APR %. Im lookin to do a 60 month or a 72 month loan.
I checked with my local bank, and they sayed i can get a 4.9% for an auto loan. But they never mentioned a personal loan. So can anyone help me out. Even just a round about answer? thx
2007-09-01 14:13:37 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
in 99.99 percent of time a secure loan will always be cheaper == but you will have to keep full coverage until the loan is pay off -- if you went the other way you do not need full coverage!!!! by the way for you info most insurance companies make auto loans for used cars -- i have used all state twice with very reasonable rates!!!
2007-09-04 11:45:49 · answer #1 · answered by Anonymous · 1⤊ 0⤋
1
2016-09-28 04:42:38 · answer #2 · answered by ? 3 · 0⤊ 0⤋
2
2016-09-30 18:47:09 · answer #3 · answered by ? 3 · 0⤊ 0⤋
An auto loan typically has a lower interest rate. You might have a hard time anyway getting a personal loan for that amount. The auto loan is secured by the car. 4.9% for an auto loan is a very good rate if there aren't any additional fees.
2007-09-01 14:24:50 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
Go for the auto loan. The auto loan will allways have better terms because your putting up the car as collateral. The personal loan will be 9% at a minimum.
2007-09-01 14:22:43 · answer #5 · answered by D. J 2 · 2⤊ 0⤋
Personally , I would not buy from a family member . There are so many options out there . Sometimes family can be a problem if something goes wrong . What seems good always isn't.
2007-09-01 14:22:18 · answer #6 · answered by dolores h 5 · 0⤊ 0⤋
If you plan to pay back the money , you can ask for a loan at Prosper. More information at http://www.acreditlibrary.com/prosper.html . You can also try your luck at online charities, people may send donations. More information at http://www.laodn.org/
2007-09-03 02:39:18 · answer #7 · answered by Anonymous · 0⤊ 1⤋
I am sure you will find this site very useful: WWW.IMMEDIATELOAN.NET
RE:Personal or Auto Loan?
2014-07-14 05:27:38 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Get free rates
2015-02-12 07:02:47 · answer #9 · answered by ? 1 · 0⤊ 0⤋
You post your profile on this webiste and then lenders come to you. I recommend trying
http://www.creditloansonline.com
2007-09-05 12:22:39 · answer #10 · answered by Anonymous · 0⤊ 0⤋