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This is admittedly a lazy question, as I could do the math here.... but thought I'd ask any quick insight for now:
$10,000 car for sale (not planning to put money down)
Option 1- Auto loan at 5% interest and procure full coverage auto insurance for 2 years
Option 2- Personal loan at 10% interest and procure state minimum auto insurance for 2 years
Which is cheaper full 2 year term grand total ya think?? (Alabama, good credit, good driving record)
Thanks