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Friday, 07 September 2007 |
By Trevor Kronk
 Are you thinking of getting a car loan despite the fact that you have a bad credit standing? Do you have any qualms about pushing through with your car loan? Then be assured that it can be done. But the terms will be harder such as having a higher interest rate and a shorter time period for your payments. Before proceeding, you should also know what the term "subprime borrower" means.
Subprime borrower:
A borrower with bad credit is usually said to be a person with a subprime credit score. Simply put, this means that the lender regards you as someone that may have trouble paying for what you are borrowing for in the first place. Different creditors have variations of this term, but usually a credit score of around 600 lands you into this category. To get a better idea on this matter, visit online sites that give provide additional information regarding credit scores.
After knowing the term, let's proceed and look at what you can do with your current bad rating:
Scrutinize your |
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Last Updated ( Friday, 07 September 2007 )
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