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Bad
Credit Loans
When
buying your next new or used car. It is very important to shop
around. You would never buy the first house you see for sale.
Buying an automobile should be no different. AllOptions offers
a quick and convenient way to receive free multiple quotes for
the auto loan that you need.
We can also help you with Bad Credit...
Credit is a
resource to determine how much of a risk a borrower can be.
Your credit is a major factor when financing an automobile.
When you have bad credit, lenders will usually give you a higher
interest rate. When lenders compete for your business, you can
be assured you'll get the best deal. The example below is for
demonstration purposes, but shows the interest and payment
amount difference depending on credit status.
|
Credit
Status |
Interest
Rate |
Payment
|
Cost at 5 yr. term |
|
Good
|
6% |
386.66 |
$ 23,199.60 |
|
Average |
12% |
444.89 |
$ 26,693.40 |
|
Bad |
22% |
552.38 |
$ 33,142.80 |
|
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