Can I take out a loan for a down payment on a car?

+1 vote
asked Feb 11 in Buying & Selling by Armata (260 points)
Can I take out a loan for a down payment on a car?

Can I take out a personal or other loan to make the down payment on a car loan?

1 Answer

0 votes
answered Feb 11 by Larry S (20,690 points)
Yes you can take out a personal loan then use the loaned money to make the down payment on your vehicle.

I did the same thing to get a car loan I went and got a personal loan to cover the down payment on the car and then that way I had two loans open in my name and since I paid back both those loans, both the personal loan and the car loan my credit rating improved a lot.

10,171 questions

10,661 answers

32 comments

220,797 users

...