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Yes. You may not be able to obtain an auto loan. If you do get approved you will have a higher interest rate which will result in larger monthly payments.
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∙ 13y ago
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How does bad debt affect your chances of getting a loan?
A bad debt can affect your chances of getting a major loan such as a house loan. Bad debts lower personal credit ratings and banks are opt to reject loan applications because of this.
If a cosigner on your car loan start getting bad credit from her credit cards should it affect your credit too?
not if you make your payments like you should a cosigner is only called upon if you default on your loan
How does having bad credit affect my mortgage payments?
If you have bad credit you will not only have a hard time getting a loan, but you will be charged a higher APR. As a result, your mortgage payment will be higher than if you had good credit. If you already have a home mortgage, having bad credit will not affect it. If you have bad credit and go to get a mortgage, you run a risk of being denied a loan until bad debts are taken care of and even then you may have a higher rate.
How does one receive bad credit for a bank loan?
One generally doesn't receive bad credit for getting a bank loan. A bank loan can be denied though, if one has bad credit. Bad credit can occur if one does not pay credit card bills on time.
I need a house loan, but how can I be approved with my bad credit score?
At the present getting loan with bad credit is hard. You will need to take some steps to clean up your credit first.
What does a loan for people with bad credit do for people?
Loans for people with bad credit allow people who have made financial mistakes to get their lives back on track. However, getting a loan with bad credit will be very difficult.
Where can you get a bad credit loan?
Yes, you can get Bad Credit Loan.
Does your bad credit rating affect your children if they want a loan?
only if your cosigning
What bank you can go to get a bad credit loan you and your wife have bad credit?
Yes, you can get Bad Credit Loan.
Get bad credit loan in Ontario?
Yes, you can get Bad Credit Loan.
What is needed for a home loan if you have bad credit?
Here's a site that can help guide you in getting a home mortgage loan with bad credit: http://www.debtworkout.com/bad_credit/home_loan/mortgage_guide.html
Does having bad credit affect your APR for a new car or home?
Bad credit will affect your APR on any new loan. Most banks use a tiered credit system to determine APR.
