Overhaulin'

I want to buy a used car from a friend for $4000 I want to know can I use a personal loan to do that?

Public Comments

1. The interest rates on personal loans make it a very bad loan to use for the purchase of a used car. Typically, banks have used and new car interest rated loans, so the best bet would still have to be the bank. The best thing to do though, would be to save enough money to buy the car outright. There will never be a shortage of used cars for around that price range. This way, you're not locking yourself into a high interest loan.