The interest rate on the auto loan determines the total cost of your bad credit car loans and the EMI payments.
Check Current Car Loan Interest Rate
Volunteer for a Higher Down Payment
When you make a hefty down payment on your car, the total cost of the car loan goes down. A higher down payment also means lower interest payments and processing fees.
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Borrow based on your ability to repay
EMI payments should not exceed 50% of your salary. Keep a low debt-to-income ratio. A high debt-to-income ratio means a greater chance of defaulting on loan payments.