What are the vehicle eligibility requirements for bad-credit car loans?
I've got bad credit and I want a loan for an older car. How do I know if this car is eligible for a loan?
This really varies from lender to lender, as there is no universal standard that all lenders adhere to. However, most lenders will only give borrowers with bad credit a loan on a passenger vehicle that is no older than 10 years, has less than 100,000 miles on the odometer, is worth more than $5,000, and has a clean and clear title. Lenders also tend to steer clear of vehicles with unresolved accident damage.
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