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In fact, many online lenders offer bad credit auto loans with competitive rates and generous repayment terms to consider. Next steps. If you have bad credit, it may be tougher for you to get a car ...
Apply with a co-signer or co-borrower: Having someone with excellent credit sign for a loan with you can help you qualify, but it will negatively affect their credit if you mismanage the loan.
The good news is that folks with low credit scores can still get loans, even if they are subprime auto loans. This can make a huge difference for someone who needs a car to get to work or school.
December 4, 2023 at 8:50 AM. ... A bad credit auto loan works just like any other auto loan. The only difference is the recipient’s credit score, which impacts the terms for which the borrower ...
For example, car title loans, where drivers borrow money using their car as collateral, can charge as much as a 300% annual percentage rate (APR), according to the Federal Trade Commission.
Auto loan interest is the cost of borrowing money to purchase a car. The lender will look at your credit score, debt-to-income ratio and other factors to determine what interest rate it offers.
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