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What are the different types of loans that are available to people who need to buy a car?
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The different types of loans that are available to people who need to buy a car include auto loans, personal loans, lease-to-own financing, and dealer financing. Auto loans typically involve a lump sum payment at the time of purchase, while personal loans may have more flexible terms and require a credit check before approval. Lease-to-own financing involves a contract where the buyer pays for the vehicle in installments over a set period of time. Finally, dealer financing is provided by the dealership itself and often comes with lower interest rates than other loan options.