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Why are bad credit car loans risky?

April 26, 2017bad credit car Loans risky

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Why are bad credit car loans risky?

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Bad credit car loans are risky because lenders do not take into account the credit score of the borrower and thus will charge a higher rate of interest compared to those who have a proven history of good credit. This is not to say bad credit car loans are all risky, however because of their more complex terms and conditions they should be approached with much caution.