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by Answerbag Staff on December 3rd, 2009

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What is a bad credit auto loan rate?

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  • by Heather Lacey on December 3rd, 2009

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    A bad credit auto loan rate is usually much higher than interest rates charged to buyers with good credit. Lenders need to offset the risk of lending to someone with bad credit with higher interest rates. Bad credit auto loan interest rates can range from 7 percent to 18 percent or more.

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    Bad Credit Auto Loans

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  • by Helmet_V on November 1st, 2010

    Helmet_V

    Bad credit auto loans and rates all just depend on the bank, where you credit is exactly and if you have a co-signer with the loan. I had pretty good credit in the high 600's which isn't bad but since it was newer credit, the bank saw that as bad credit. To get the loan by myself the rate was going to be about 17%. However with a co-signer it was still not a good rate with 8.75%. So it all just depends, but make sure to shop around a lot and don't just settle for the first thing.

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