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Can banks make car loans to low income persons?


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Wiki User
2008-06-18 05:03:00
2008-06-18 05:03:00

sure but they will charge you higher interest rates and which will be put you in horrible conditions, so i suggest you should go with online sources there are many websites regarding car loans and also they can provide you car loans even with low credit and no credit and also with low interest rates, so try them and you could get your problem resolved.

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Yes, it is a major source of a banks income.

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To collect deposits from people and grant loans to other people and make an income out of it.

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When banks make loans, the money supply increases, since the people who receive these loans will have more money.

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to make loans Investments, loans, mortgages, and of course salaries for the staff.

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It is the income for the bank. Banks charge loan customers an interest whereas they pay an interest to deposit customers. The difference in interest rate is the income for the bank. They will use that for their operating expenses as well as to make a profit.


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