Some lenders like ELoan will only approve you if you have a prior auto loan in your credit history. If you have bad credit, I bet these scenarios below have happened to you when you bought a new car from a corrupt dealer, as many DriverLoans visitors with bad credit have reported. The dealer charges you a very high interest rate APR (much higher interest rate than you should have paid), and lies to you about the bank "requiring you" to buy the extended warranty, the credit life insurance, the...
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