Getting a used car loan with bad credit is as easy as getting approved for a loan with good credit. Because automobile loans are collateral-based, many auto loan lenders approve loans to persons with bad credit.
There are pros and cons to obtaining financing with bad credit. A primary disadvantage involves higher interest rates. However, there are ways to avoid paying more for a used vehicle financing. Here are a few tips to help you get approved.
Consider Using a Co-Borrower
Getting approved for an auto loan with bad credit or no credit history is not difficult. In fact, auto loan companies regularly offer financing to persons with low credit scores. Loan interest rates are primarily based on credit score. Obviously, those with excellent credit qualify f View the rest of this article
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