Some personal loans require collateral — that is, a personal asset, such as a car, home, cash deposit or investment — that you offer to secure the loan. This asset reduces the lender’s risk, as you’ll ...

Buying a new car isn’t cheap. The average cost of a new car was $49,814 in November 2025, while the average cost of a used car was $25,730 in December, according to Kelley Blue Book. Given these costs ...

They are distinguished by the level of risk and the inclusion of collateral ...

Auto equity loans are a lower-risk borrowing option compared to car title loans, which can carry finance charges as high as 300% APR and are considered predatory. Interest rates vary by lender and ...

Lindsay VanSomeren is a personal finance writer based out of Kirkland, Washington. Her work has appeared on Business Insider, Credit Karma, LendingTree, and more. Lindsay VanSomeren is a personal ...

Unsecured personal loans provide funding for many purposes, but interest rates can be higher without collateral Written By Written by Staff Loan Writer, Buy Side Bob Haegele is a staff loan writer at ...

A personal loan can be a good idea to finance a used car if conventional financing isn't available or if you can't qualify for an auto loan. Rates can be higher and repayment terms shorter, compared ...