Many customers are searching for a used car and an auto loan, but don’t know the inner workings on how their loan is approved. If you loan is approved with a bank or credit union, you probably don’t think twice except for what color seat covers you want to put in your new car.
Yet if you are looking for a used car but have poor credit, you may be wondering why you were not approved for some loans but approved on others. The underwriting criteria can vary between a bank loan and a buy here pay here loan. We’ve detailed the differences in a recent article… take a look here.