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9 steps to a car loan on damaged credit

8. Look out for add-ons
8. Look out for add-ons © Gajus/Shutterstock.com

8. Look out for add-ons

Nonprime buyers are more likely to encounter lending contracts stuffed with nonessential goods and services, says Josh Frank, a risk-modeling manager for the financial software company Intuit and a onetime senior researcher for the Center for Responsible Lending in Durham, North Carolina. Never allow the loan to be contingent on purchasing any add-on, such as extended warranties, after-market services and even insurance, says Frank.

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