What are the Consequences of a Bad Credit Car Loan?
Bad credit car loans are harder to find because the borrower is not appealing to most lenders. Lenders prefer applications from borrowers with good to perfect credit in order to reduce the risk of default on the loan. However, some lenders are willing to provide high risk car loans in order to take on the additional fees associated with these loans. If you are seeking a bad credit car loan, expect to pay more for the loan and take on additional risk.
