In Need of Cash?

Not too long ago, Dad mentioned about getting a new car. He wanted to get a personal loan under my name in order to get a loan to buy the car. I didn’t think much but I knew straight away that I didn’t want to obtain such loan.
Firstly, I didn’t think it is necessary to get a new car when the current one is still ok. Why put ourselves in the liability when we don’t have to?
Secondly, I really dislike the idea of having to owe someone an amount of money. And considering my current financial situation, I am not in a good state to add more financial commitment.
Nevertheless, I think loan is a great tool available to us when we really need the extra cash aid to get the things we want. I guess there are basically two main type of Loans: secured and unsecured.
Secured loan is when the loan is given under a mortgage. Usually for a huge amount of cash. I often see this kind of loan in businesses.
Unsecured loan is a loan given without any security for the lender. One common example is car buyer. If Dad has his way and get a loan to buy a new car, this will be the loan he will take.