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What is the Price
Of Having Bad Credit?

If you are making payments on a car, you are probably paying between $5,000 and $9,000 more in interest just for having bad credit. This added interest shows up every month in a higher payment.

Credit Status Rate Payment Over 5 years Monthly Cost of
Bad Credit
Perfect 10% $424.94 $0.00 $0.00
Mildly damaged 14% $465.37 $4,722.54 $76.17
Damaged 20% $529.88 $8,593.30 $138.60

Bad credit in auto financing can really hurt, but it is nothing compared to the cost of bad credit when a home is involved. A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit, as indicated below.

Credit Status Rate Payment Over 30 years Monthly Cost of
Bad Credit
Perfect 7% $655.30 $0.00 $0.00
Mildly damaged 9% $804.62 $50,155.24 $139.31
Damaged 12% $1,028.61 $130,791.63 $363.30

If you are looking to make a major purchase in the next 6 to 12 months we suggest that you obtain copies of your credit reports from all three credit agencies ASAP.

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Center For Debt Management

Center For Debt Management

The Center For Debt Management

Helping Consumers Save Money and Reduce Debt Is Our Only Business!

We invite you to explore the sectors listed below. We promise that you'll find exceptional values, offers and resources to reduce your living expenses and to enjoy life! But First—if you're over-your-head in debt—get a free no-obligation debt consultation right now!

Debt Management and Financial Services! The Internet's oldest and most comprehensive debt management agency! Resources for debt management, consumer credit counseling, debt consolidation loans, debt settlements, legal aid, financial aid, credit and financing, credit reports, budget software, insurance, income resources, tax assistance and more. Get out of Debt! Call Now — 1800DEBT.COM

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