How Do You Get An Auto Loan With No Credit?
It’s possible to get an auto loan with no credit if you are savvy and determined. With a down payment, good employment history and decent income to support your car payments, insufficient credit doesn’t have to be a deterrent to car financing. There are both banks and vehicle dealerships that offer car loans to consumers who simply don’t have a credit history. A car loan can even help you build up good credit over time. Obtain a copy of your credit report. Even if you have very low credit, you should still have a credit report and you’ll need to check it for errors or omissions. If you receive a notice that there is insufficient information for your name and Social Security number, that’s the same message potential lenders will also see. Save up for your car down payment to increase your chance of getting a car loan even without good credit. A large down payment will increase your odds of getting a loan. Calculate how much you can afford to spend on a vehicle. One rule of thumb is that
