A personal loan is normally a fixed cost, fixed period loan of money to purchase any item the customer wants – including vehicles.
A personal loan is not a tri- partite transaction as the lender provides the loan facility but does not take ownership of the vehicle. The customer buys the vehicle directly from the dealership using the loan amount borrowed. The customer will immediately take title/ownership of the vehicle.
There are a few lenders who offer what is called a 'restricted-use' personal loan agreement. This is one where the purpose of the loan is specifically for vehicle purchase.