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5 Tips for getting a car loan with bad credit in NZ

Bad credit can make it difficult to get a car loan, but it’s not impossible. Here are 5 tips to help you get a car loan with bad credit in NZ:

1. Check your credit score

The first step is to check your credit score. This will give you an idea of where you stand and what kind of interest rates you can expect.

2. Find a cosigner

If you have bad credit, you may need to find a cosigner to help you get a loan. A cosigner is someone who agrees to repay the loan if you can’t.

3. Get a secured loan

A secured loan is one where you put up collateral, such as your car, to secure the loan. This can help you get a lower interest rate.

4. Consider a no-credit-check loan

There are some lenders who offer loans without doing a credit check. These loans tend to have higher interest rates, but they may be an option if you can’t get a loan elsewhere.

5. Shop around

When you’re looking for a loan, it’s important to shop around. Compare interest rates and terms to find the best deal.

Bad credit doesn’t have to stop you from getting a car loan. By following these tips, you can increase your chances of getting the loan you need.