 TITLE: What to Know About Subprime Loans CONTENT: How Do I Get a Subprime Loan?\n-----------------------------\nThe best places to go for a subprime loan depends on the type of loan you're looking for. You may choose to look at traditional lenders like big banks or online lenders that specialize in working with people who have subprime credit. Here are some other steps you can take to find the right loan for you:\n*   **Check with your local credit union**: Credit unions are required by law to cap the interest rate on most of their loans at 18%, which is much lower than what other subprime lenders might offer. However, the institution may require that you use your savings or some other asset as collateral to get approved.\n*   **Shop around**: Take your time when researching your options. Apply or get prequalified with at least three or four lenders to make sure you get the best terms you can qualify for.\n*   **Get help**: If you're looking for a personal loan or auto loan, online tools like Experian CreditMatch™ can help you find lenders based on your credit score, saving you time and potentially giving you more options.\nOne thing to watch out for when looking for a subprime loan is payday loans. These loans are often marketed to people with poor or fair credit, but they can make things worse before they help make them better. Payday loans are typically due within 14 days and have astronomical interest rates, making them worth avoiding in general. END