Applying for auto loans for bad credit nofollows the same procedures as applying for one with a high credit score. You pick the make and model of the automobile, do your research, evaluate lenders, and speak with your selected lender.
However, the main distinction is that when you obtain a car loan with a low credit score, you will be required to pay a higher interest rate. You will pay more interest overall and have to return the loan over a longer period of time or with higher EMIs.
Borrowers with high credit scores—scores above 750—typically receive cheaper interest rates than those with subpar scores.
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