Normally the words low credit indicate a credit score that is lower than 629. There are many reasons as to why you may have low credit in the first place. It could be that you have a history of having made late payments to your lenders or – even worse – of defaulting on them. Identity theft is also reason why your credit score may be a low one. How do you buy a car with bad credit? It could also be that you do not have enough years of credit history in the first place. The kind of interest that you are asked to pay for your car loan depends on your credit score. Normally it is inversely proportional to your credit score. This means that the higher your credit score the lower rate of interest is asked off you. The good thing however is that just because your credit score is bad it does not mean that you would have to keep on paying high rates of interest on your car loan. This is especially applicable for loans where the tenure of repayment is five years or more....
Check out our best services for getting car loans with bad credit. Get approved for financing a car with bad credit score on the same day you apply.