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At Positive Lending Solutions a personal loan, which is sometimes referred to as an unsecured car loan or vehicle finance. It can be used to purchase cars or other vehicles that do not qualify for a standard consumer car loan or car finance. Examples of using a personal loan to purchase vehicles would be a private sale car, and older model vehicle that would'nt qualify for a standard consumer car loan.

A personal car loan is also used to purchase classic cars such as a Holden Monaro or similar. Personal loan interest rates are usually higher than a standard consumer car loan or vehicle finance, because the lender does'nt always take security over the goods you are purchasing.

However, interest rates can usually be slightly lowered if an encumberance is placed over the vehicle you are purchasing.

Clients and applicants wanting to purchase cars that are outside of normal lending guidelines or who want to purchase import vehciles, or borrow money for furniture, holidays, debt consolidation would consider a personal loan to be the best solution.

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