Auto Loans For No Credit – What You Need To Do

Published in No Credit

All right, so you had some problems making payments on time four years ago, but now you need to get a new car. Can you get auto loans for no credit? First of all, you have to keep in mind that almost everyone has credit. Unless you’ve been in prison or lived in different countries; you have some sort of credit history, whether it’s good or bad.

Because of this, your first step should be to order a copy of your credit report and see just exactly what you’re working with. Your score may be higher than you think, and you might not have any issues. Of course, your score could be lower than you think, and then you have to do a little bit more planning.
If you’ve just turned 18, and you have no credit history, almost all banks or dealerships probably won’t finance you. It’s just too risky for them to give auto loans for no credit history. That being said, you can always just get a friend or relative to give you loan, especially if it’s for a small amount, and then just have them report it to the three credit bureaus to help build your history. If they don’t want the hassle of it, there are companies that will do it for you for a small fee.

For most of us though, we do have some credit history. The good news is that the lower the loan amount, the less they will care about your credit history; especially if you can prove that you make enough money to afford the loan. So just figure out which your credit score actually is, decide on a monthly budget to show what you can afford to pay for an auto loan, and start shopping around. You might be surprised what you’re able to find.

How to Get an Auto Loan Fast, Even With Bad Credit:
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