She financed the full purchase price without paying cash upfront. ⚠️ The Trade-offs She Faced (The Cons)
Sarah got the car title immediately because the loan was not secured by the vehicle. can you use a personal loan to buy a car
The higher interest rate made her monthly payments larger. She financed the full purchase price without paying
Defaulting on a personal loan won't result in auto repossession, but it will severely damage your credit score. handed over a cashier's check
Her interest rate was 11%, whereas a secured auto loan might have been 6%.
Sarah met the seller, handed over a cashier's check, and drove away with the car and the physical title in her hand. ⚖️ Why Sarah Chose a Personal Loan (The Pros)