Comments Off on How to Avoid Scams and Predatory Lending in Bad Credit Car Financing
Getting a car loan can be tough, especially when your credit score leaves something to be desired. Lenders know this, and some will, unfortunately, take advantage of those who have bad credit scores by engaging in predatory lending practices. Thankfully, by being aware of these practices, you should be able to avoid scams and predatory lending. Let’s take a closer look at some of the tips and tricks you should keep in mind below.
Watch Out for Red Flags
When applying for a car loan, you’ve got to remember to watch out for red flags that may indicate predatory behavior in a certain lender. Listed below are some red flags you should always keep an eye out for:
Predatory lenders will often charge higher than needed rates, which can make your loan more unaffordable in the long run. While some situations do require a higher interest rate than others, you [...]