Final answer:
Having bad credit does not result in paying less interest on loans; in fact, it can lead to paying more.
Explanation:
False. If you have bad credit, lenders may see you as a higher risk borrower. As a result, they may charge you more interest on loans to compensate for the increased risk of default. This is because having bad credit can lead lenders to believe you are more likely to miss payments or default on the loan.
Learn more about Credit and interest rates here:
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