Comment Comment by toddmatthews > Call your bank and ask them what the interest would be for a line of credit equivalent to the loan amount for that car, over the same periodan unsecured line of credit is going to have a higher interest rate than loan backed by the collateral of the car.also, people tend not to default on their primary vehicle (they need it to get around) so its a less risky loan, hence the lower interest rate parent toddmatthews 4 years ago
an unsecured line of credit is going to have a higher interest rate than loan backed by the collateral of the car.
also, people tend not to default on their primary vehicle (they need it to get around) so its a less risky loan, hence the lower interest rate