Although they're one of the easiest ways to travel to work, cars are not affordable for everyone. You might want to go in for a good used car, but you would still need a good credit score when looking for a car loan.
Statista reports that, as of the date of this writing, car loan interest rates hover above a good 4.29%. The average amount of car financing, on the other hand, was around $30,261 by the end of 2016 in the United States.
Most third party institutions like banks require you to have a good credit report before they grant a loan - often a FICO score of 620 or above.
Don't worry, if you are among those unfortunate people whose credit score has taken a beating, there is another alternative - buy here pay here (BHPH) car lots.
The Top 7 Ways to Reduce Your Interest Rate and Save Money on Your Car Loan
Both major financial institutions and BHPH car lots provide loans with interest. Nobody likes [...]