No credit history car loan Occasionally, having no credit history can be as bad
as having a poor credit history. Before granting credit, lenders need
to gauge an applicant's creditworthiness.
In fact, auto loans are ideal for establishing credit or rebuilding credit. Unfortunately, if you have never financed a car, some lenders may charge higher fees. Here are a few tips to help you get a low rate auto loan. A credit history before applying for a car loan. The easiest way to get a low rate on an auto loan is to establish credit before applying. In some instances, lenders prefer applicants who have previously financed a vehicle. If you repaid a previous car loan, or maintained regular payments, lenders consider this a good sign. Hence, you may qualify for a low rate. If you have a superb credit rating, you may qualify for super low advertised rates. Establishing a good credit history is easy. Within six months of opening a new account and making regular on-time payments, your credit score will soar. Use a co-signer if you don't have acredit history.An additional approach involves obtaining a vehicle loan with a co-debtor. If you are married, your spouse may act as a co-debtor. Moreover, young adults trying to get an auto loan may have a parent co-sign for the loan. To qualify for a low rate, the co-debtor must have good credit. |
|
Adelaide Web Page Design | Unemployed Loans | Sitemap | My Sites | Other Resources |
Resources and articles about No credit history car loan are protected by their respective authors.