how long do banks give you to pay back an auto loan if you have bad credit?
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trying to get a loan for 2500. have bad crdit how long you think they would give me to pay that back?
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Brother Otter said:
Good words Steven.
The term of most car loans is 3 – 5 years. That does not depend on credit score.
However, what a bad score will do is make the bank hypervigilant. Go late on even one payment and they’ll be all over you. A car loan, paid back on time, could be a way to help improve your credit history.Like or Dislike:
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0March 6th, 2010 at 4:59 pm -
Ryan M said:
Depends on the term of the loan. If you get a 24 month loan, then they give you 24 months to pay it back. Same goes for a 36 month, 48 month, and 60 month loans
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0 0March 6th, 2010 at 4:59 pm -
capitalgentleman said:
Most banks will not give a loan for an amount that small (at least, not in Canada). They will just say put it on Visa, or something like that.
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0 0March 6th, 2010 at 4:59 pm -
Grumple said:
You get to decide how many months, but interest will be high.
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0 0March 6th, 2010 at 4:59 pm -
STEVEN F said:
Your credit score NEVER effects the TERM of the loan. It MAY prevent you from receiving the loan at all. It WILL increase the interest rate, but the length of the loan will be the same in any case.
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0 0March 6th, 2010 at 4:59 pm
