She could buy from a private seller without dealership red tape.
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
The higher interest rate made her monthly payments larger. She could buy from a private seller without
She financed the full purchase price without paying cash upfront. ⚠️ The Trade-offs She Faced (The Cons) can you use a personal loan to buy a car
Her interest rate was 11%, whereas a secured auto loan might have been 6%.