Monday, December 28th, 2009

Who lends to Unsecured personal or car loans with bad credit?

loans for bad credit
adancemamma asked:


Unsecured personal or car loans with bad credit?
Which company’s lend to people with bad credit I went through a nasty divorce and now I need to rebuild my credit. I understand the interest will be a little higher and suggestions.

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4 Responses to “Who lends to Unsecured personal or car loans with bad credit?”

My Take on It Says:
December 28th, 2009 at 9:24 am

You will not get a personal loan without a cosigner or some sort of collateral.

As for a car, if you were able to find a lender, it would be a buy here pay here lot that would require a hefty down payment and in return you would also get a high interest rate.

After my divorce, my credit was a wash too. I bought a car that got me from point A to point B and if I couldn’t pay cash, I couldn’t buy it.

All that works is either paying off the debt you got stuck with in the divorce and waiting about 7 years for things to start falling off your report.

Alyssa Says:
December 30th, 2009 at 10:49 pm

Bad credit personal loans normally carry a higher rate of interest. This is because of the higher risk potential in such loans. One may also be overcharged on this account. The borrowers are asked to pay a hefty charge and have to face some inflexible terms of payment.

Nevertheless, there are lenders who charge reasonably lower rates of interest. Taking a loan is not a trivial matter. It puts an important asset to stake. It also affects the financial condition of the borrower. This makes a proper search for the loan a priority. Gone are the days when searching the loan market would have raised hackles of people. Today searching has become much simpler, thanks to the power of information technology.

Rogelio B Says:
January 2nd, 2010 at 10:05 am

It seems that all loans have been difficult to get in hand recently. The websites places are fast and often a nicer experience.

I suggest

answerpeace Says:
January 4th, 2010 at 11:54 pm

Yes, the interest rates are higher for people with lower credit scores because they are considered high risk loans.

I’m not sure about unsecured personal loans, but I do know that you can get approved for car loans with bad credit. You will pay more in interest, and in some cases may also pay more for the car itself if you are purchasing a used car from a buy here / pay here car dealer.

Here is a site that can show you were to go for a bad credit car loan:

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