subprime loan

A subprime loan is a loan given to someone who can’t get a regular loan because they don’t have a good credit score. Think of it like getting a loan from a shady loan shark. It’s expensive, and you’re likely to get taken advantage of. The interest rates with subprime loans can be really high – more than 10 times what you’d get with a regular loan. It’s like paying a ton of taxes on something you don’t even want to buy. It’s a total waste of money! Fun fact: many people who take out subprime loans end up in debt, which means they owe more than the original loan amount. So watch out!