Finding No Credit Car Dealers
If your credit history is less than stellar, you need to shop at no credit car dealers to find a good used car. If you’re young, and haven’t established a credit history, you’ll also need to buy a car from a car dealer who doesn’t check your credit. Here’s how to find a reputable dealer that won’t check your credit score, or will finance without credit.
How to Find a No Credit Loan
Some car dealers will advertise that they don’t require credit to buy a car. In fact, all they require is that you’re employed and are able to pay for the car on a monthly basis. They’ll contact your employer to verify you’re employed, and they’ll ask you to sign an agreement that you’ll pay for the car. If you’re looking for a car dealer in your area, try calling their credit department and asking about their no credit policies. Then visit the dealership to get an idea of what cars they have available in your price range. Or, you can search for the make and model you’re interested in, search online, and then ask the dealer about their credit check policies.
If You Don’t Have Any Credit
If you haven’t established credit yet, you have a couple of options. First, you can search for no credit car dealers and shop with them. However, if you’re responsible, can pay for the car, and know someone with excellent credit, you can ask them to co-sign on your loan with you. A co-signer guarantees that someone will pay for the car in case you default on the loan, and most any car dealer will grant a loan with a good co-signer. It’s your responsibility to pay for the car loan so your co-signer isn’t stuck with the payments, however.
Don’t assume that you can’t get a car loan because you have no or low credit. If you have a bank or credit union, and you’ve been with them for awhile, try applying for a car loan with them, too. You don’t have to settle for dealer financing when you buy a car, you can get your own financing and then shop around for the best deal. So, look for no credit car dealers, but get creative with your finance options, too.