A personal loan is an unsecured loan which is a great way to manage all the finances. You can finance your wedding, plan a family vacation, fund your education or can use it as a vehicle finance. But to purchase any two-wheeler and four-wheeler, there is a specified loan known bike loan / car loan is available.
A bike loan is nothing but a two-wheeler loan, with the help of which one can finance the purchase of a motorcycle. Same things apply on car loans. Both personal loan and Vehical finance are unsecured loans, so the rate of interest is higher in both the cases.
So if you are planning to purchase a vehicle, you can opt for any of these loans. Lenders will not ask the reason of taking a personal loan. So, you can easily apply for a personal loan for fulfilling your dreams. Whereas, taking a vehicle loan is also not a bad option.
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