You've just learned that your request for an auto loan with XYZ Bank has been denied. The loan officer explains that the decision has to do with your credit score. XYZ lends only to prime borrowers; your credit score, she continues, places you squarely in subprime territory.
Subprime. You're not sure exactly what it means, but it sounds like a condemnation that will forever brand you as being somehow deficient to lenders.
However, being deemed subprime doesn't necessarily mean that your borrowing days are over. It may still be possible for you to get that sought-after car loan (albeit from ... Back to article
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