Can i get a loan with bad credit

Asked by Mar 13, 2017 at 03:31 AM about the 2008 Chevrolet Cobalt LS Coupe FWD

Question type: Car Selling & Trading In

1 Answer

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Having no credit or poor credit is a major stumbling block to getting a loan because you’re viewed as a high risk customer who might default and leave the lender holding a bag of worms. It’s just a fact that until you raise your credit score, you won’t fit the standard lending guidelines that traditional, big banks have to follow. If you’ve been turned down for a loan or don’t want to get stuck paying high, subprime interest rates, Try a Credit union, or If you have enough equity in your property, you could get a low-interest, tax-deductible line of credit to spend any way you like. you can try a Peer to peer or P2P lending has been around since 2005. It’s an online platform that allows you to borrow directly from an individual instead of from an institution. You may have someone co-sign a loan for you.

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