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There are few companies which provide car loan under personal loan but most of the companies differ car loan from personal loan. It’s because personal loan is an unsecured loan which are availed in order to satisfy your financial needs. However, car loan have been availed specifically to aid with the payment for the car where company cover 80% of car cost and remaining 20% are borne by you. It means you do not require collateral in the form of property or gold to avail the loan. Unlike car loan and many other types of loans, a default with the repayment of the loan will not result in the auction what you own.
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