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  • Official comment
    Stilt Team (Edited )

    A car loan is a type of a secured loan.

    Secured loans are generally cheaper than unsecured personal loans. The reason is that if you don't pay back the money, the company will take away your collateral (i.e. your car), and resell it to recover the remaining balance.

    Personal loans, on the other hand, are a type of unsecured loan like credit cards. You don't have to put up a collateral or security to get the loans. If you don't pay the loans, it goes on your credit history and the lender will try to collect it but you don't lose any physical asset. This makes the loan inherently riskier.

    That's why personal loans are more expensive than car loans.

    As an international student, the best thing you can do is to go to a company that is focused on international students. They will likely have products where they can give you a loan without SSN. Most banks and credit unions will require an SSN before they can give you the funds.

    Stilt provides unsecured personal loans to international students in the U.S. We make decisions really fast (in less than 24 hours) and can deposit the funds in your account the next day.

    Many international students from universities like Texas A&M University, Rochester Institute of Technology, Stevens Institute of Technology have taken advantage of our unsecured loans at lower rates to buy cars. They were getting higher rates for a secured loan at dealers but they got it at much cheaper with us.

    If you want to learn more about how we can help you get the best loan possible, feel free to reach out to us at

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future.

    We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible.

    Learn more about us on Wikipedia or visit us at If you have any questions, send us an email at

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