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Car Loans For No Credit

August 16, 2011

If you have recently graduated from high school or college, it's likely that you are starting out with no credit history. Credit history is built over time according to how quickly you pay bills. These can include car loan payments, credit card payments, mortgage or rental payments, and utility payments. Over a period of several years a credit history will be built, and it will become easier to make a large purchase with financing. While this thought may bring comfort for the future, what should you do if you need a car loan with no credit now?

There are options for those with no credit. Some will choose to enlist the assistance of a co-signer, which gives the lender more security that the loan will not be defaulted on. Another option for a car loan with no credit is to make a substantial down payment, which sends the message to the lender that you are vested in the car. Those who make a down payment are more likely to stay current on payments, as they will not want to lose the down payment invested or the car.

If you have no credit and are choosing to sign for the loan alone, there are some aggressive lenders that will be willing to do business on a no credit car loan. Looking on your own can be a long task, but the process can be sped up tremendously with our help. Carloans.com prides itself on assisting customers with bad credit car loans or no credit car loans. We already know the lending industry, and match up customers with lenders regardless of their credit history. As long as the buyer has a job and steady living situation, there are usually options available.

You can get started by filling out our online application. Once the application is submitted, it will be forwarded to your personal loan advisor, who will be in touch with you within 24 hours.

Author: CarLoans.com Staff


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