If you have bad credit what kind of interest will pay with car loans?

When you have bad credit, you will likely pay a higher interest rate on a car loan. This is because lenders see you as a higher risk borrower, and they charge more interest to compensate for the increased risk of default. The exact interest rate you will pay will depend on a number of factors, including your credit score, the amount of the loan, and the length of the loan.

Here is a general idea of the interest rates you can expect to pay on a car loan with bad credit:

* Credit score of 300-579: 15% - 25%

* Credit score of 580-669: 10% - 14%

* Credit score of 670-739: 7% - 9%

* Credit score of 740-799: 5% - 7%

* Credit score of 800+: 3% - 5%

It is important to note that these are just general guidelines. The actual interest rate you will pay may vary depending on the lender and the specific terms of the loan.

If you have bad credit, it is important to shop around for the best possible interest rate on a car loan. You can do this by comparing offers from multiple lenders. It is also a good idea to get pre-approved for a loan before you start shopping for a car. This will give you a better idea of how much you can afford to spend and will make the car buying process more efficient.