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A driver with poor credit is more likely to file a claim than a driver with. Unlike education level or gender a drivers credit score has a major impact on their insurance rate.
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Drivers within the worst credit tier pay more than twice as much as those with excellent credit pay for auto insurance about 152 per month.
. Getting a car loan with a credit score of 500 could be tough too. How credit score impacts car insurance premiums. Here are some of our picks for lenders that offer car loans for bad credit.
Best car loans for bad credit. The Experian report shows that only 037 of new-car loans and 435 of used-car loans issued in the fourth quarter of 2019 went to people with credit scores of 500 or lower.
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