Auto Financing History
auto financing history
no credit auto financing?
ok so no credit history. only one cca with a $500 credit limit. ive been at my current job for 2 years. whats the chances on me getting approved on a 12k car. and im putting down 4k so basically i would be financing only 8k? any possibilities? suggestions? should i put more down?
You will need a cosigner
Getting Approved For Auto Financing When You Don’t Have Any Credit History
This article briefly explains the options that you have if you have no established credit history and are in need of auto finance. The basic options that you have are outlined and will aide you in your search for an approval that won’t break the bank or worsen your situation.
First of all, if you have no credit history, don’t go looking for auto financing without credit checks. Wrong answer. You do not want to fall into the trap of buy here pay here car lots, tote the note dealerships or any guaranteed auto financing gimmick. Those types of establishments charge interest rates, down payments and fees that are astronomical in comparison to better options. Worst of all, is that being that you don’t have any other option (or so many people think), the prices of the cars are sky high in comparison to their actual value. So we’ve got that one out of the way. Don’t do it.
Next, is online auto finance or financing options through sources online that can match you with lenders that specialize in no credit car loans. These types of companies can help you with auto finance whether you have no credit or bad credit. They match you with lending sources and companies that will provide you with an auto loan approval, based on your income. The payment terms and rates are much more advantageous vs in-house dealership financing. Best of all, with a good auto loan through a legit online source, you’ll have the opportunity to build or rebuild your credit history.
About the Author
Find legitimate auto loans for bad credit at www.BuyingCarswithBadCredit.com.
You can also obtain an extended car warranty quote at
www.CarWarrantyDeals.net
.
Rebuild your credit with a bad credit-credit card at
www.RushMyCreditCard.com.
