Tips To Get an Auto Loan With No Credit

92236A-2013-Volkswagen-Tiguan

Being able to get a vehicle loan in Washington even when you have no credit is no longer impossible. Some people seem to think that having no credit will keep them from being able to do this, but there are ways around this problem and many auto loan services will give you a chance to acquire your vehicle even if you have no credit history at all. In this article, we are going to give you some important tips on how you can make this happen.

The first time buyer can find himself having an advantage as some dealerships and credit providers are willing to help them finance their first vehicle. You are usually going to need a 10 to 15% down payment and you need to have proof that you have a steady job with a steady paycheck. Sometimes you can even use your current vehicle as a trade-in towards your downpayment if you don’t owe money on it or if it’s worth more than you owe. Once you are able to meet the downpayment requirements there is a good chance the Washington Auto Credit can help you get financed.

If you have just graduated college, you might be able to take advantage of that situation too. There are some companies that are willing to give you a very sweet deal for your first vehicle and you might not even have to provide any down payments. Many auto manufactures offer college rebates for recent graduates that can help with their finance rate or total total vehicle amount.

Looking for a co-signer is always going to be an option and if you can get someone to co-sign with you, this is going to be a serious increase for your chances of getting a loan. New auto buyers usually turn to family or spouses if they need a co-signer. If you need a co-signer, you will have better luck completing your loan if they have a steady job or have good credit.

If you have little to no credit and are looking for an auto loan in Washington state, contact Washington Auto Credit today. We are the best you can find at getting people with no credit auto loans. Contact us today to learn more, or visit us in person in the Olympia Auto Mall.

Advertisements

One thought on “Tips To Get an Auto Loan With No Credit

  1. Thanks for these tips for getting an auto loan. I don’t have any credit, so this information will be useful so that I can get the right loan for buying a car. You made a great point that I would need to make a 10-15% down payment to prove that I can finance the car. I’ll make sure to keep this in mind so that I can show banks that I’m capable of paying off a car loan without any credit.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s