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The best way to avoid bad credit auto loan traps is by doing a little research and determining how much car you can afford before even visiting a dealership. Be honest with yourself about your ...
Credit mix: A diverse mix of credit accounts, such as auto loans, mortgages, and credit cards, show banks that you can manage various types of debt. While this is another small factor that goes ...
The best bank for a car loan depends on your credit profile, loan terms and interest rates offered. Large banks like Chase and Wells Fargo are popular choices due to their wide range of options ...
Qualifying for a bad credit loan depends on the lender and the type of loan you are applying for. Generally, you will need to have a steady source of income and may need to provide collateral or a ...
However, like other bad credit loans, your credit score dictates how low your rates and fees will be. Learn more: Check out Bankrate's review of peer-to-peer lender Prosper 3.
For example, if you have very good credit (between 680 and 739) and are financing a new Ford car in Indiana with a $35,000 loan, your APR could be as low as 8.29% with a 72-month term.
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