Tag: bad credit car loan

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Bad Credit Car Loan
Bad Credit Car Loan

Bad credit will result in higher interest rate or in most cases an outright denial of credit when applying for a car loan, however there are options. Bad credit is usually a sign of getting behind or not paying your debts, so larger banks will not take on the risks however there are some auto loan companies willing to take the risk but will have higher interest to offset the risks. There are a few options that can help with getting a loan and potentially lower the interest:

  • Large Down Payment
  • Personal Loan
  • Buy Here Pay Here
  • Collateral Loan
Large Down Payment

A larger down payment will reduce the size of the loan which can help reduce the interest.

Personal Loan

If you can get a personal loan from your bank, you can usually get better interest rates as they can see [...]

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