How to Get A Car Loan With No Credit
If you are like many of our customers, your finances are on the top of your mind when it comes to taking out a car loan. Money is an important consideration for everyone. Yet, if you already have no credit, money may be especially high up on your list of things to think about when it comes to buying the right new or used car.
Sure money is a key element to getting a car especially the type of car that will last for years to come and be safe and reliable for you to drive. However, we work hard to ensure that your no credit situation does not impede your chances of getting the right car for your needs. That's why we create customized lending programs to ensure that you can get a safe and reliable car regardless of your credit situation.
Here are a few things that you need to know about how to get a new or used car with no credit:
Credit matters
Of course, if you know that you have no credit, you are probably already aware that credit matters when it comes to taking out a car loan. Having no credit doesn't automatically mean that you will not get a car loan. However, it does mean that the interest rate on that car loan and the amount of money that you can take out for that loan may vary.
Dealers can be flexible
Dealers can be flexible with all of their customers including those customers with no credit. Therefore, be sure that you work with your lender to create a customized plan that suits your needs. These plans may include a short-term loan with a higher monthly repayment amount or a longer term loan with a lower monthly repayment amount. Speak frankly with your lender in order to get the right plan for your needs.
Contact us today at Tricity Auto Credit to learn more about our loan programs that we customize a loan program to meet your budgetary needs! We also offer In-House Financing specifically designed for those who have no credit or are new to Canada.
