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Can you get a car loan with no credit? Even if you are considering a used vehicle, it is likely that you'll need financial assistance to complete the purchase. Buying a car is expensive, and having a vehicle is generally considered a necessity, so in order to make the transaction, most people turn to auto loans. However, in order to qualify for financing, most lending agencies want to make sure that you aren't a risk, and the way they do that is by considering your credit score, making it hard to receive a car loan if you don't have any credit. The system of scoring credit is incredibly nebulous, and most people tend to ignore anything to do with it until they absolutely have to. There are many myths about credit scores that are spread that make people frightened to even look at their credit report. When you're first starting out, not having any credit can make you seem like a liability to a lender, even if you have all the makings of a responsible borrower. If you don't have any credit history, an installment loan paid on time becomes part of your credit record. Where to go to get an auto loan As mentioned, it can be difficult to get a loan without credit, though it is not impossible. If you have a savings and checking account, visit your bank to ask them about the possibility of a loan. It is encouraged for you to bring proof that you are able to pay recurring bills like a utility or phone bill, and that you are employed with a consistent stream of income. Even without those, you can see if someone you know would be willing to be a co-signer. This can be tricky, as this puts both of you on the line if you miss payments, but it is a way to get qualified for a loan. If neither of these tactics works, or if you're looking for a second option, you are able to go directly through a car dealership like OK Carz. We work with all credit situations through The OK Carz Finance Solution, our in-house financing program—no credit? We welcome your application. You can apply for pre-approval online at okcarz.com before you even go to the lot—it takes less than 2 minutes. And our in-house financing reports your payments to all three major credit bureaus, plus you get the convenience of Buy-Here-Pay-Anywhere payment options: online, at Walmart or Amscot locations, by mail, or by phone. All financing is subject to approval and verification of income, identity, and Florida residency. See dealer for details. OK Carz – Anything Else is NOT OK.

Should you finance your used vehicle through the dealership? Financing a vehicle purchase through the dealership When thinking about a used car salesman, most people have a pretty distinct image in their mind. They are likely picturing a man twirling a mustache wearing tacky pants. In most cases, this image is completely false. A used car dealership can be an excellent way to get an upgraded vehicle or to get vehicle financing. Where should you look for a car loan? Applying for a car loan can be a confusing time since you have plenty of choices when it comes to how you will finance your vehicle. You can finance through a bank or credit union, which might be your best option if you have good credit. However, you can also apply for financing through the dealership. Hearing this might once again conjure the same image from hearing used car salesman, but financing through the dealership can be a wise decision for some people. If you apply for a loan with a bank and then visit a dealership, it can still be worth talking to them about financing, since you'll have a point of comparison, and the dealership might have an option that works better for your situation. If you want a one-stop-shop situation, the dealership is going to be your best bet: you can often apply, get an answer, and drive home your vehicle on the same day. Getting an Auto Loan with Bad Credit If you have a bad credit score, it might exclude you from qualifying for a traditional bank loan. If that is the case, a dealership with in-house financing is worth a look. OK Carz works with all credit situations through The OK Carz Finance Solution, and our in-house financing reports your payments to all three major credit bureaus. Going through a dealership is convenient, too—even with bad credit, we welcome your application, and online pre-approval takes less than 2 minutes at okcarz.com. If you are pre-approved for financing through OK Carz, you aren't bound to buying a vehicle. Should you choose to purchase a used car from OK Carz, you'll get a vehicle that has been through our reconditioning and two-stage inspection process and comes with a 24-month/24,000-mile limited powertrain warranty (see written warranty for complete terms, conditions, and exclusions). Look online at all the vehicles available, or visit one of the 11 OK Carz locations across Central Florida. All financing is subject to approval and verification of income, identity, and Florida residency. See dealer for details. OK Carz – Anything Else is NOT OK.