Personal loans come in many different forms. The two biggest distinctions are loans that are made with collateral or without collateral. These loans can be for cars, boats, houses or just plain signature loans.
Loans made without collateral, signature loans, always have higher interest rates than loans made with collateral. This is because the lender is taking more of a risk by loaning you the money.
Loans made with collateral, like car loans, gives the lender a physical object to hold possession of while you make payments to repay the loan. Once you have repaid the loan, the lender releases the collateral.
We have listed the top lenders for each type of personal loan below, please take your time and fill out the application carefully. Personal loans are much more likely to get approved when the lender receives a complete application.