How Can You Finance Your Used Car with No Credit Score? If you are looking to buy yourself a used car fresh out of college or after just securing a job or merely at the start of your business, it is understandable that you will not have any credit score to show. Also, you might have taken a financial hit in the past or lost that alimony case which will drive down your credit score to bad that is equivalent to no score. However logical these may seem like reasons for not having a credit score, on paper, no conventional financial house will provide you with an auto loan. But that does not mean you cannot buy a used car with no credit score as there is always a way in the thriving US auto market. Here are 3 ways in which you can finance your own car even without any score to show. The first two are a bit complicated while the last one has already been the silver lining for many. Way 1: Pay a large down payment upfront When you search online for used car dealerships near me, you may get results that take no or bad credit. However, the catch lies in the fact that they will require you to make a large down payment upfront as such dealerships consider giving you an auto loan a risky affair. With the down payment, they secure the amount they paid while procuring the car. The rest you pay as installments over the ensuing months. Way 2:Take a cosigner with you With someone to vouch for you and take on the burden of paying off your credit, even banks will not turn you down. But you will have to find someone who will be willing to place such a bet on you as your default will show up on their report and also add a financial responsibility. For many, finding a cosigner can be herculean. Way 3: Go to buy here pay here dealerships The simplest way of the lot to finance your own car even when you do not have a credit score to show. Top BHPH dealerships like Family Auto,you can get special sales offer, and the needed financial assistance despite your credit score. You can pay as much down payment as you want, get approved for an auto loan easily, buy cars with warranties, and even get offers to drive the price further down. Whatever decision you take, you will hold the ultimate responsibility. So, finance your car the right way. Opt for the top buy here pay here dealerships and do not let your scores become a bother.
Reference By: http://www.familyautoofanderson.com/how-can-you-finance-your-used-car-withno-credit-score/