I have a young bro 26 years of age who has been harboring ambitions to own his first jalopy - a second hand by the end of this year. He is split in between taking a bank loan to fund the purchase or signing up for a car loan to achieve the same objective. He has no other major financial obligations for a bachelor of his age. I have advised him to take the car loan as it would be already 80% financed. Otherwise from those of you who may be knowledgeable with such matters and can share an opinion, which in between these two options would he be best suited to choose?