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Bad Credit Car Loan or Car Lease Rapid City SD

Buying a car with bad credit can be a huge problem for subprime borrowers. Learn how a poor credit report and low FICO credit score affects what you pay, including high car insurance rates. Find out how to repair your bad credit to avoid future problems.

Sioux Falls, SD
Best Rate Title Loans
(605) 716-2842
1203 E Saint Patrick St
Rapid City, SD
Advance America Cash Advance
(605) 342-1600
608 E North St
Rapid City, SD
North American Title Loans
(605) 343-5003
1215 E Saint Patrick St
Rapid City, SD
First Western Bank
(605) 348-4545
650 Flormann St
Rapid City, SD
Rabo Agrifinance
(605) 348-3505
2525 W Main St Ste 309
Rapid City, SD
First Western Bank
(605) 348-3322
333 West Blvd N
Rapid City, SD
(605) 393-2274
3788 E Highway 44
Rapid City, SD
Pioneer Bank & Trust
(605) 399-1510
2018 Mount Rushmore Rd
Rapid City, SD
Affordable Loans
(605) 716-7774
1000 Cambell St
Rapid City, SD

Bad Credit Car Loan or Car Lease

Having a bad credit history and low FICO credit score often creates problems when buying or leasing a car. People with serious credit problems frequently have very frustrating experiences when looking for car loans and leases, particularly in times of tight credit and economic stress.

Some banks and finance companies have tightened up from just a few months ago and are much more careful about doing business with "subprime" borrowers with poor credit histories. If you are having problems with making payments on your current car (see ), don't lose it because it'll be very difficult getting another.

However, car manufacturers and dealers are so competitive and desperate for business that they are often willing to take some extra risks to get business.

Generally, people with "subprime" credit should expect to pay higher interest rates, be required to make higher down payments, or make a security deposit (for leasing). They may even have problems getting auto insurance. It's good to check your credit reports (all three of them) for mistakes to make sure your data is accurate.

Analyze your credit situation first
If you have bad credit, do you know why? Do you know just how bad it is? There are varying degrees of bad credit. Some are seriously bad; some not so bad. A couple of late payments on a credit card account is not as bad as a recent bankruptcy or home foreclosure. Some problems can be quickly repaired; others take longer...

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