There are different criteria for being approved for a personal loan than a Hire Purchase
. Loosely talking you will need to have a better credit score, as you get the money sent to your bank, and you purchase whichever car you want to with it, recording it on your own name. This also means that loaners will come down on you much more firmly for late or missed repayments, as they do not have the protection to take the purchased car back. The interest rates will also depict the eminent hazard, and you need to check up on the vehicle's legal documents yourself to make sure it will service you for the long haul.