Could your credit history affect your car loan?
Monday July 28, 2008
Worried about your credit history?
If you'd like a car loan, but are concerned that your credit history is a little sketchy, you may still be eligible for car finance. Many banks offer secured car loans, using the car as collateral. With a secured loan, you'll be able to upgrade your car to a smarter new model.
The downside to being a high risk to the bank is that you'll probably be charged higher interest. If you're willing to cop the higher interest and find the terms and conditions agreeable, you'll soon have your new car.
