personal loans are usually unsecured, and attract different interest rates. you can sell anything you buy with a personal loan - but you still have to pay it!
ETA - quite often bank loans/personal loans will allow more money to be loaned out - which can mean a more exxy car purchase
also, with a personal loan, you don't need a deposit. when i purchased my first car on "credit" at 21, i went through the car finance. traded in my first car (purchased outright at 18) and went to both the bank and the car yard to check out how much i could borrow. i got a better deal through the car yard as i had the other car to trade PLUS a 2500 deposit. the bank didn't look at that - just that i had no real credit history so they offered much less...
Last edited by briggsy's girl; September 29th, 2011 at 08:21 PM.
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