Can You Finance a Car with No Credit?

Finance Your Vehicle Regardless of Credit

No matter what your credit situation is, financing a vehicle, such as a used Audi, can be pretty daunting. With no credit, it can become a little trickier, but there are still plenty of options to consider. Because credit measures give a lender confidence in your ability to make the monthly payments, not having ideal credit may mean you’ll need to be more careful of your budget limits and flexibility. Try our payment calculator to get a sense of what can fit your budget, learn what a good interest rate for a car loan is, and read on for more tips and research tools to make it easier to take home a used BMW!

Financing a Car With No Credit or Bad Credit

After you find the right vehicle for your scenic trips and daily commutes around Roseville, you’ll need to find the right finance plan. With no credit or bad credit, you should be prepared for a larger down payment and the possibility of higher interest rates. Keep in mind these other tips for financing a car with bad credit or no credit from our experts:

• Know your budget and your credit score (if you have one). This can be useful in many parts of the application process, but it’s important to note that applying for financing can negatively affect your credit score. If you keep your loan applications in the same 14-day period this can mitigate the possible negative effects.
• Consider leasing as an alternative. While your lease payments with less than ideal credit will likely be higher than the average lease, it will still be more affordable than purchasing a vehicle.
• Ask questions and don’t assume you won’t be approved. Often your first offer may not be your best option, and a willingness to investigate a little will go a long way to finding the right plan for you.
• Improve your credit score. Certain small steps toward better credit can make a world of difference if you have a short credit history. One simple way to boost your credit is by using a credit card on small things and immediately pay it off.
• A higher overall cost is a strong possibility. As mentioned above, unestablished credit, your interest rates and down payment will likely be higher than average.
• Separate price negotiation from financing. The first offer you come across is not the only one available; many dealerships use multiple lenders, and this can work to your benefit.

Finance Your Vehicle at Kareem Auto Sales Inc

If you’re looking for a great vehicle at a great price on a used Honda Civic near Folsom, Kareem Auto Sales Inc has you covered. Whether you have bad credit or no credit, we are dedicated to making your financing process just another small step on the road to your favorite car. Make the entire process a breeze with our pre-owned vehicle specials and car buying tips – including tips on what to look for when buying a low mileage used car and whether or not in-house car financing is right for you – from our team in Sacramento, where you can stop by and meet with our experts one-on-one. We’ll help you learn more about no credit finance, secured car loans, refinancing a car loan, and more. Don’t hesitate to contact us today!