Yes, car loan has less interest then a personal loan. Why? Because a personal loan doesn't have collateral.
It's there a big difference in percentage between auto loan and personal loan?
It all depends on your credit, usually a car loan is higher, but not if you have great credit .
It's there a big difference in percentage between auto loan and personal loan?
Yes, auto loans are currently 5-6% and personal loans are 8-11% depending on you credit and the state you live in.
48 month new car loan 5.49% 6.94% 12.50%
36 month used car loan 6.25% 7.79% 15.00%
Personal loan rates: National Averages: Low - 7.25% Average - 13.04% High - 21.00%
It's there a big difference in percentage between auto loan and personal loan?
Basically
for
Auto Loan 12 - 15 %
and
Personal loan 16 - 18%
It's there a big difference in percentage between auto loan and personal loan?
car loan means more of luxury and personal loan is for basic needs, so auto loans always have high intrest rates
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