The main difference between a car loan and a consumer loan is the rate. If we compare a car loan with a consumer loan without insurance, collateral and guarantors, car loan rates are lower by 3-10 percentage points - it depends on the bank. There are fewer risks for a bank in a car loan.

It is generally recommended to use an auto loan to finance the purchase of a car because these types of loans tend to have lower credit rating requirements and offer lower interest rates. In any case, when I took out a loan, I didn't use a car loan through a dealer, but instead took a loan from apply.credit9.com against the recommendations. Overall, I haven't regretted it as I have a pretty low interest rate. Hope I helped you out!