Car Loan:

A car loan is secured against your new car. When the car is sold, you must pay the car loan. Interest rate is always less than the personal loan in case of car loan. This is because the finance company views it as less of a risk than a personal loan.

Car loans are generally taken by individuals as opposed to businesses and can be used to finance the full cost of the purchase including the on-road costs, insurance, warranties and even loan protection for the car loan itself.

Car Finance :

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