Categories: Types of Car Loans
No Credit Auto Loans
Auto Loans With No Credit
Times are changing, you will be surprised to find out you can be approved for a no credit auto loan. Usually having no credit means you don't have a good chance of getting any kind of loan. Well, it's changing!
No Credit History
If you have no credit history and you need to get auto financing, you can get a no credit auto loan by fulfilling some basic application requirements and proving that you have a stable income and residence.
When looking for a no credit auto loan, it's stability that counts. Thus, the application requirements are pretty thorough. Here is an idea of what you will need to provide a no credit auto loan provider.
While some auto loan companies require same employment for 4-6 months and the same residence for at least that period of time to qualify for a no credit auto loan, it's best to wait until after a year of stability to have a solid chance and an opportunity for a better auto loan rate.
Apply for a No Credit Loan
To apply for a no credit auto loan, you'll need your pay stubs, proof of residence (bring a utility bill for example) a phone line connected to that residence (not cell phones), and copy of a valid driver's license. To qualify for some no credit loans, 8 references may be required, plus a copy of the court order for child support (if it applies to you). If you're self-employed you might need to supply copies of your tax returns for the past two years! So if you don't mind supplying information like the above you can apply for a no credit auto loan.No Credit Loans Online
When looking for a no credit loan online, it's good to use online tools such as auto loan calculators to see what amount of loan you can get by typing in the amount of monthly payments you can afford.
Make your budget and be clear about the affordability of the loan. Information about insurance and buying a car is available online through the no credit auto loan providers. You can fill out an no credit auto loan application online. Shortly after submitting the application, you should receive a phone call from a loan expert to ask for the required documents. You'll be informed of your approval in a couple of days. There you have it, how to get a "no credit auto loan".
Best of luck, that car may not be too far away just yet.