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The yo-yo ploy is a byproduct of the "spot delivery" process, in which cars are sold "on the spot" before the financing is complete. Depending on where you live, there might be laws to protect consumers from spot delivery abuses — or not. Check can be delivered by mail, though delivery may be slow so this is not the recommended option. A: If you have a bad credit and are looking for a loan for higher studies then federal loans are a suitable option. These loans do not consider the credit record and are awarded on need or merit basis. Those who opt for private loans need to have a strong credit record or a cosigner with a good record who can get the loans for them.
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