i'm trying to buy a new car. i have no credit. who will finance me?

Question

getting auto loan with no credit.

Answer 1

Prosper.com. It's person to person lending. I've got a few thousand I play with on that site (presently invested in around 40 loans). It gives credit to those who are turned away from traditional lenders and produces a rate of return for investors that beats the hell out of CD's.

Check it out. If you're NC paper is appealing, who knows? I may end up bidding on it.

Answer 2

You indicate you have no credit. Does this mean you flat have NO established credit, or do you have BAD credit?

Bad credit means open your wallet and here comes the over the top interest rate. That doesn't necessarily mean you are totally screwed.

No credit puts you in much better, and stronger position.

Either way, first stop is your own financial institution. See what kind of interest rate you will qualify for (credit unions are a great help here), as well as what you can afford to buy... It is known as being pre-qualified.

Don't forget to call an insurance company and get a feel for what the insurance is going to cost you, and factor that into the purchase equation. Just pick a generic style vehicle, and year model, and tell the insurance guy you are shopping for a car, and just want to get an idea of what the costs are going to be.

Then once you have that information, head to the car store. There is nothing better than having information in your hands. You know what the bank will charge you for interest, and further what you can afford to buy.

This will protect you against the finance guy. His job is to get you into the most car for the most payment while also getting the highest interest rate he can.

The finance department is a profit center for the dealership. They make money on the interest rate you sign for. They are buying a rate from the bank, turning it around and selling it to you at a higher rate.

You can get some good interest rates from a dealer, but if you don't know what you qualify for, you are a sitting duck for the suit in the finance department.

Every part of your sale is negotiable including financing. Negotiate; and you can only do that if you know the game ahead of time.

VERY IMPORTANT!!! If it is NOT in the sales contract, it never happened, despite what the dealership said.

Remember: Don't be afraid to walk away if you don't feel comfortable. If the salesman, and finance guy are giving you the business, WALK! They need your money; you don't need their car!

You are in command, not the dealership.

Answer 3

Believe me, if a dealer wants to sell you a car, they will find financing for you. If they don't, go elsewhere. If the car is brand new, then Ford GM and Chrysler will all finance you, unless you don't have a good job

Answer 4

Here you can compare different options

RE I'm trying to buy a new car. i have no credit. who will finance me?

getting auto loan with no credit.

Answer 5

I am sure you will find this site very useful: http://www.IMMEDIATELOAN.NET

RE:I'm trying to buy a new car. i have no credit. who will finance me?

Answer 6

Go to CARMAX. If you have bad credit or perhaps no credit, they WILL work with you. They will find a company to finance you.

Answer 7

This i see often two choices you have, lucky approval but you must must have a job and at least make 1,600 a moth before taxes find a new car with a rebate like KIA, FORD,etc. ue the rebate is like cash down and also have a down payment some were around 2,000 most banks like to see real cash down hope this helps.

Answer 8

i was gonna answer your question but Job lowe has a way better answer than me...you should go for it...goodluck

Answer 9

Try https://tr.im/1sv0C

Answer 10

Visit this site so you can find the best rates: LOANHUNTER.NET