How To Get A Loan With Bad Credit And No Cosigner?
If you have bad credit, the dealership or other auto lender will usually want to mitigate their financial risk in making a loan to you, often by asking you, the borrower, to find someone that you know to cosign to your loan application. If you prefer instead to have a no cosigner auto loan, because you can’t find a cosigner or just don’t want to use one, then you should put as much money down as you can at the time of your application for the car loan. Putting money down on your auto loan if you have bad credit will make the lender more likely to make the car loan with no cosigner because they know, that by having a greater stake in the automobile’s equity, you will be more likely to make your payments every month on-time.
