Because Alex had a decent credit score (around 700), the lender approved the application in just a few days.
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Alex's "signature" was their bond. If Alex stopped paying, the lender couldn't just take a car, but they could sue Alex or significantly damage their credit score. Because Alex had a decent credit score (around
Alex applied online at a site like NerdWallet to compare options. Within minutes, they found a loan with a of 12%—half of what the credit cards were charging. unsecured-personal-loan