No Credit Car Loans - Even With No Credit History, You Can Still Get Approved

Even it you have no credit history, you can still get approved for a car loan. With a car loan, you can purchase your vehicle and build your credit history. Online car loan lenders make shopping easy, and you can find low rates compared to traditional banks.

Get Started

Before you launch into car loan shopping, take a look at your credit history. Even if you have never opened a credit card account, you still have a credit history. Regular bill payments count as well as a checking account. Hint ? open a checking account if you haven't already.

Plan On A Down Payment

With no credit, you get treated much like you have bad credit with financing companies. To offset the risk of your loan, plan on putting down a large down payment. You may get away with a down payment as little as 5%, but 20% will ensure lower rates.

Research Companies

Online car loan lenders offer several different types of financing. Request quotes from both traditional lenders and subprime lenders. Subprime lenders provide financing to people with adverse credit. Usually their rates are only slightly higher than a traditional lender with few fees.

Evaluate Rates And Terms

To find the best financing for your automobile, evaluate rates and loan terms by your financial goals. While low rates will save you money, you will often have a higher monthly payment. Decide how much you can afford monthly and look for a package that offers the best price within those figures.

Get Pre-approved

When you have settled on a lender, go ahead and get pre-approved. By filling out the paperwork online you will save yourself time and money through reduced fees. Once approved, you can then go car shopping like a cash buyer. You have the option to buy through a car dealership or through a private individual.

Think Refinance

Even car loans can be refinanced today. If you find yourself with a less than ideal loan rate, you can plan on refinancing your loan within a couple of years. Take the remaining time to build up your credit history by making regular car payments. With your approved car loan, you will also be able to qualify for credit cards to help build your credit score.

To view our list of recommended auto finance companies online, please visit this page: Recommended Auto Loan Companies Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

---

Secured Loans House the Most Positivistic Consequences of Loan Borrowing

One of the most enduring myths of loan industry is... Read More

Devising Newer Ways of Repayment

How good would it have been had there been no... Read More

Taking the Time to Find the Best UK Loans

When looking for UK loans, it's always important to take... Read More

Fast Cash Payday Loans

If you need cash now there are several options available... Read More

The Wonders of Compound Interest

Albert Einstein called compound interest "the greatest invention of all... Read More

Military Payday Loans ? When?s The Best Time To Avail Of These?

What are the opportune times to avail of military payday... Read More

Secured Loans vs. Unsecured Loans ? Choosing Between the Two Diverse Ends

Often in our search for finance options, we are led... Read More

Risk It With A Bridging Loan?

How many times have you been casually going about your... Read More

Do You Qualify for a Loan?

Like most people, you will probably wait until submitting a... Read More

Loan Options for College Students

You just finished high school and realize you have two... Read More

Bad Credit Business Loans ? to Exchange Bad Credit for Monetary Benefaction

You want to raise a business on your own or... Read More

Benefits of a Home Owner Loan

There are many benefits for choosing a Home Owner Loan,... Read More

What Type of Loan Do You Need?

There are many types of loans available to consumers. There... Read More

Secured Holiday Loans- Your Chance To Unwind Your Senses

"All work and no play makes jack a dull boy".The... Read More

Holiday Loans Can Expand The Horizon Of What You See

Why do kids get all the breaks? Winter-weary adults, fed... Read More

Loans - Good or Bad Debt?

When borrowing money it is usually because we lack the... Read More

Secured Loans ? Filling the Void Created by the Deficiency of Resources

"Money is like a sixth sense without which you cannot... Read More

Bad Credit Secured Personal Loans are Like Desserts-Last Course/Best Recourse for Impaired Credit

Plato said, 'We can easily forgive a child who is... Read More

Need a Personal Loan? Have Poor Credit? See if a Payday Loan Would Work For Your Needs

Poor credit and a financial emergency don't seem to mix... Read More

Finding a Loan With Bad Credit

No matter what your credit history is the simple fact... Read More

No Hotel Loan for You!

Meeting the requirements to get a decent hotel loan from... Read More

SBA Loan: Qualifying and Applying

According to federal government research, small businesses provide about 75%... Read More

Bad Credit Car Loans - Why They Are Easier To Get Than They Ever Have Been

Car loans are easier to get by using an online... Read More

Where to Look for Bad Credit Loans

When trying to locate bad credit loans, many people find... Read More

Cosmetic Surgery Loans ? Discovering How It Feels to Look Your Best

Market research of UK's cosmetic surgery ascertains the fact that... Read More

Bridge Loans: Everything You Wanted To Know

As the name implies, bridge loans fulfill a vital need... Read More

Information About Debt Consolidation Loans with Bad Credit

Finding debt consolidation loans with bad credit can be quite... Read More

Online Car Loans - Getting a Good Quote Online

Online car loans enable you to get a good quote... Read More

Long Term Unsecured Loan?

In order to understand qualifications for loan approval, let's examine... Read More

Unsecured Loans ? Substituting Secured Loans

Watching more and more people fall in the trap laid... Read More

What is Bad Credit UK?

Bad credit UK is a term that many people don't... Read More

Why Choose a Secured Loan?

Are you wondering why choose a secured loan? A secured... Read More

Bad is the Opposite of Good... Is It? Not with Bad Debt Personal Loans

'Bad' means 'bad' no matter where you go! It is... Read More