unsecured loan


Home Page


Home Loan Rates
Calculator Loans
Loan Processing
Education Loan
Unsecured Loan
Loans Com
Loan Payment


Auto Loans
Secured Loans
Debt Loans
Quick Loans
Unsecured Personal Loans
Financial Loans
Banks Loans
Loans Rates
Car Loan
Chase Credit Cards
Stafford Loan
Collateral Loans
Interest Only Loan
Bridge Loan
E Loan
Business Credit Cards
Bad Credit Credit Cards
Litton Loan
Equity Loan Rates
Loan Payments
Home Loan Rates
School Loan
Bad Credit Personal Loan
Students Loans
Secured Loan
No Credit Cards
Start Up Loans
Aa Loans


Bad Credit Car Loans And Its Interest Rate
By Joanne Clive
If you need a car loan and your credit record is bad, you are better to go for customised loan options. Bad credit makes the task of getting financial help tough, but it does not locks the door fully on your face. You may still have the chance to get a loan for you. In that case you have to finance your car with bad credit car loans. Its door remains open to the borrowers who have CCJ’s, bankruptcy, default etc against them.

The interest rate may be a major concern to anybody who has a bad credit record. Generally, the interest rate is supposed to be higher than other traditional loans. But how higher it should be is decided by some factors. The interest of bad credit car loans will depend on your credit status as well as on the competitiveness of the financial market. If your credit score is extremely bad, you have to pay an exorbitant interest rate.

The type of loan you take also decides the interest rate you would be charged on a bad credit car loan. Secured loans will carry lower interest rate than the unsecured loans. If you want to keep your monthly repayments


as low as possible then you may consider extending the term of the loan. You will be allowed this in secured bad credit car loan. However, it is not advisable to seek out an extremely long loan term. Extra extended loan period means paying a large sum of extra cash in the form of interest.

Bad credit car loans taken without security are offered for short time. This type of loan carries higher interest rate than the one secured against property. But, being short-term in nature, it costs less because the borrower pays interest for small time. So, while taking bad credit car loans, the consumer is better to examine the pros and cons of the loan minutely. Never forget, a stitch in time saves nine.


All content published on this web site is provided for informational and educational purposes only. Always seek professional advice before making any decisions.

We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here.

This page was updated on Nov 2009 and is Copyright © 2003 by Global Com Consulting Inc.