Article: Bad-Credit Car Loans Are Possible
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Bad-Credit Car Loans Are Possible
Bad-credit car loans may not be easy to find, but if you need a car, they are worth it.
Bad-credit car loans carry a higher risk to the lender, so the borrower must pay a higher than usual interest rate. You probably will need to apply to more than one lender and give more documentation. Still, a bad-credit loan is worth the trouble because it not only lets you get the car you need and want, but can also help improve your overall credit rating.
Getting a Car Loan with Bad Credit: 4 Steps
1. Contact Equifax, Consumerinfo, or TrueCredit online for your credit score or to make sure there are no errors on your credit report. You can usually dispute the incorrect information online or over the telephone. If you have correct unfavorable information, y...
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