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Personal Loan vs Car Loans

I've just been browsing moneysupermarket.com. The best selling quotes for car loans are upwards of 17% APR. However, they advertise personal loans from as low as around 6%. Why would anyone choose a car loan???

Comments

  • tanith
    tanith Posts: 8,091 Forumite
    Part of the Furniture Combo Breaker
    Sure Beats me......:rotfl: Maybe for some reason they can't get a personal loan?

    Never would do it myself....
    #6 of the SKI-ers Club :j

    "All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Peter quit posting that damn link everywhere you moron
  • mrcow
    mrcow Posts: 15,170 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    andy777 wrote:
    Why would anyone choose a car loan???

    Believe or or not, but some people don't even know (or bother to find out until it's too late) what APR they are paying. They just look at the repayments, think "I can afford that" and off they go!
    "One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
    Because by then you've blown your chances. That's it."
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