Can You Finance a Car with No Credit?

Girl buying car


If your credit needs some work, but you’re in need of a new vehicle, you may be wondering if it’s possible to get a no credit or bad credit car finance plan. The finance team at Texan GMC Buick can help. While it may be a bit more difficult to obtain a bad credit car loan, it isn’t impossible. Learn more about no credit car loans, car financing with bad credit, and more with our team before you take the next steps in the process.

Tips for Financing with Bad or Even No Credit

If you’re looking into financing a car with no credit, you’ll have to keep in mind that the down payment, as well as interest rates, may be higher than the average. Make sure you go in knowing your budget and leave a bit of wiggle room. You’ll also want to keep these tips in mind:

Don’t Assume You Won’t Be Approved

After doing your research, you might be convinced that you should take what you can get. This isn’t always the case. Ask questions and see if there are other options that will benefit you more while helping you stay within your budget.

Improve Your Credit Score if Possible

While you search for new vehicles, build up your credit. Work out a payment plan and start paying off any outstanding debts. You can also use your credit card on small things and immediately pay them off. This will bring up your credit score in no time.

Apply for Loans the Smart Way

When you apply for financing, your credit score will take a hit. If you’re applying for multiple loans, be sure to keep all your loan applications within a 14-day period to limit the damage to your credit score.

Don’t Accept Just Any Offer

The first offer you receive isn’t the only one out there and you don’t have to accept it. Many dealerships go through multiple lenders, so if you think there’s a good chance you could get a better offer, try for it.

Be Prepared for Higher Costs

As mentioned earlier, the interest rates and down payment may be higher. If you have no credit or bad credit, you’ll want to keep this in mind when planning your budget. If you have a vehicle in mind, use our payment calculator to help you estimate future payments or check out our shop by payment page.

Apply for an Auto Loan at Texan GMC Buick

We want to help you obtain a bad credit car loan. Contact our team today to learn more about our no credit and bad credit car finance options, lease deals, and more! In the meantime, if you have any questions, don’t hesitate to contact us.

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