Can You Use A Personal Loan To Buy A Car May 2026

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Sarah needed a reliable car for her new commute. She found a perfect used Honda Civic sold by a private owner for $12,000. Because the seller was an individual and not a dealership, traditional dealership financing was not an option. Sarah decided to apply for a personal loan through her local credit union. can you use a personal loan to buy a car

Her interest rate was 11%, whereas a secured auto loan might have been 6%. AI responses may include mistakes