Several factors must be considered when choosing a car loan: term of the loan, interest rate, applicable fees, terms and conditions. 

Using the vehicle as a security reduces the interest rate usually applicable to a traditional personal loans, making the car loan more cost effective. Though the interest rate is lower, the approval turn around time might be a bit longer. Moreover, your vehicle might not be acceptable as security: in that case, a personal loan could be the next best option accessible. 

My Sydney Broker specialist can help you to find the right car loan to buy the desired car.