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Getting the Best Deal on a Bad Credit Auto Loan [
Bad Credit Auto Loans ]
November 9, 2008, 3:14 pm
You wanted an auto loan but the bank rejected your application. Of course, you wanted to know why you were being denied and with a sinking heart you hear that your credit score is so low that you are defined as a subprime customer. Of course, you will ask again what this subprime label is. Subprime means that you are a borrower with bad credit. This means that your credit score is below the score acceptable to the lending institution. The bank computes the credit score using various categories, which are payment history, outstanding balances, and length of credit history, new credit and types of credit used. ... more
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