No credit auto loans for first-time buyers
If you’ve never made a purchase on credit before, the prospect of buying a car can be intimidating. But it shouldn’t be. Everyone with an established credit history started somewhere, so of course you can borrow money when you’ve never borrowed money before.
At Car Deal Expert we work with lenders who specialize in no credit auto loans. If you’ve never borrowed money before, the only way to find out if you can qualify to borrow money now is to give it a try. Apply today at Car Deal Expert and you’ll get an answer right away. The minute you apply, we’ll search through our network and put you in direct contact with the lender offering the best loan for your individual car-buying needs.
Get a good start by getting the best no credit auto loan
If you need to buy a car but have no established credit history, Car Deal Expert makes it easy to find the best possible financing. Just a slightly more favorable interest rate can save you hundreds or even thousands of dollars over the course of a loan term, but finding the best interest rate requires time and patience when you do the searching yourself. Apply at Car Deal Expert, and we’ll do the comparison shopping very quickly. Take just a few minutes to fill out our application; that’s all we we need to find the loan that best meets your requirements. The online application process is secure and hassle-free, and there’s no cost or obligation. Once we find a lender, it’s up to you to decide whether or not to accept any financing offer.
Secured loans are easier to get than unsecured loans
Very often, a car is the first purchase a person makes on credit. It’s relatively easy to finance a car when you’ve never borrowed money before. There are a couple of reasons for this. First, car loans are secured. Unlike credit cards and most personal loans, if you fail to make payments, the lender can repossess the collateral. If you owe more on the loan than the car is worth when the lender repossesses it, the lender is also entitled to collect the deficiency balance from you. Second, car loans are secured. Because you know the lender can repossess the car if you fail to pay, the lender knows that you are highly motivated to pay. Because auto loans are secured, auto lenders – even those who make no credit auto loans — have a measure of confidence that other lenders do not.
Build a solid credit history with a no credit auto loan
Getting a no credit auto loan is a perfect way to start building your credit history. Payments made like clockwork are the key to obtaining other forms of credit, like mortgages and credit cards. Payments made like clockwork on a variety of credit types are the key to a solid credit history and a stellar credit score. It would be less than forthright to say that no credit auto loans are the least expensive form of credit available. The more established credit you have, and the higher your credit score, the lower interest rates you can obtain on all kinds of financing. You’ll pay a little more for a no-credit loan, but everyone who’s ever borrowed money for the first time (and that’s everyone who’s ever borrowed money) has had to do that. Look at it this way: There’s only one first time. If you play your cards right, you’ll get better interest rates and pay less each time you obtain new credit.
We offer poor credit auto loans, too
Maybe you’re not worried about having no credit. Maybe you’re worried about having bad credit. The good news is that bad credit certainly doesn’t mean you can’t qualify for a car loan. Consider these facts: Today, some 90% of Americans who buy cars finance their purchases; about 25% of Americans have compromised credit scores; and more than 76% of American workers drive a car to work. Given those numbers, it’s safe to assume that a lot of people with bad credit are driving cars to work and that a lot of people with bad credit are qualifying for car loans. Naturally, with a car-buying market like that, lenders are competing like crazy to make high-risk, bad-credit car loans. If you are one of the many people who have bad credit and need to buy a car, apply right now at Car Deal Expert. We work with experienced and reputable lenders who specialize in poor credit auto loans. We can help get you on the road in the car of your choice by finding you the best auto loan possible.