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Personal loans have a wide range of end uses and can be used to cover a variety of personal financial demands such as medical bills, home renovations, debt consolidation, and so on. Consumer durable loans are a sort of personal loan that can be used to buy consumer durable products including domestic appliances, technological gadgets, and other typical household goods, among other things. However, they are often less expensive than a traditional personal loan because they are sometimes offered at a low or even 0% interest rate with a little administrative fee.