Take it that advice is the same for all finance types? Handy to know...
If it's an unsecured loan the finance house does not have a financial interest in the object you have bought with it. The title of ownership is immediately yours. If payments were not made on an unsecured load the finance house has a legal right to anything with your name on it. Easiest to go for is property or direct from wages. APR's tend to be lower as the risk of finance company not getting their money back is less if it all goes wrong.
A secured loan - typically what people use when using finance options through a dealership - is secured on the item you have used the loan to purchase. In the case of a vehicle the title of ownership will not be given until the loan is settled. By title of ownership I do not mean the V5 form as this is no longer proof of ownership. With a secured loan the only right the finance house has is the item used as security. A secured loan also benefits the loan holder under various laws but most notably 1/2 and 1/3's. I could bore the crap out of you with the ins and outs but secured loans for cars are the safest way to purchase a depreciating asset
