With income stagnant and debt on the rise, more customers are finding themselves shut out of traditional loans. This has caused a rise in services available to customers whose credit may not be good enough for a regular bank loan. Bad credit auto loans are essentially regular auto loans with some adjustments based on the borrower’s credit. Unsurprisingly, the major adjustment between a good credit auto loan and a bad credit auto loan is the interest rate, as lenders are taking bigger risks with bad-credit customers. Technology has allowed companies reach millions of customers with bad credit.
Read more at The Cantin Automotive Insider