What would be easier to obtain, a personal or car loan?
I’m just wondering which type of loan would be easier to obtain. I am looking into getting a 2006 Honda Civic EX with 50,950 miles on it for ,500 with only one previous owner and no accidents. I have a credit score of about 720 and just finished off a car loan valued at ,000. For 8 months I always paid before it was due, and it has been paid off by my insurance company, due to an accident. I also have had 2 credit cards, one for 1.5 years and another for half a year, never missing or having a late payments, while paying above minimum balance. Also, have had a cell phone for 8 months, never missing a payment. I was wondering what type of loan I would sooner be accepted for by Bank of America. A car loan, or a personal loan? Sorry if all the above info. was unnecessary, I was just adding it in case it plays a role.
PS:
The reason my credit score is not higher, is because of the short amount of time I’ve been establishing credit.
Thank you all, and I look forward to hearing your answers.
Tags: accidents, amount of time, bank of america, car loan, cell phone, credit cards, credit score, establishing credit, honda, honda civic, honda civic ex, insurance, insurance company, late payments, minimum balance, personal loan, wondering what type