There are many reasons why someone would be put in the subprime car loan category. If you have recently experienced job loss, which resulted in unpaid bills; an accident; unexpected medical expenses; divorce or bankruptcy, any of these could have dropped your credit score.
Common situations that will qualify you for a subprime auto loan are:
- Bad Credit
- Bankruptcy
- No Credit
- Repossession
- Consumer Proposal
- Collections
- Missed/Late Payments
- Slow Credit
- Good Credit
- New To Country
- Divorce