There are 3 primary points of difference between these two personal loan types:
There are a number of advantages and disadvantage to taking out a personal loan, most of which will be relevant to your personal situation. Take some time to consider your reasons for taking out the loan and assess how the loan will benefit you in the long term. Check out the information below for some general personal loans pros and cons.
If you’re applying for a car loan you will also need to provide:
• VIN or chassis number, engine number and registration plate details
• Car dealer information or the contact details of who sold you the car
• Tax invoice and receipt for the car or purchase price if a private sale
• Your CTP insurance and comprehensive insurance details