Getting Car Loan with No Credit History Become Easier Now, Know Simple Tips for Guaranteed Approval

Many people confuse bad credit with no credit. The later basically means that the person has no credit history such as a college student. On the other hand bad credit refers to ones credit rating. Many times it happens that one makes a late payment or at times we may even not make a payment due to other commitments or we may even cross the credit limit on our card. All these activities form the back ground of your credit history. To get a car loan with no credit you have to be prepared to pay high interest rates just like someone with a bad credit.
People with no credit must remember the following if they want to get car loan no credit:

• Ask a friend or a member of your family to be a cosigner on your loan.

• Start a savings account and put a little money in the account every month from your salary

• Ask your employer to give u statements for your monthly income.

• Try making a down payment for the car that you want

• Don’t change jobs often as lenders like to see how stable you are with your work

• Many lenders also want to know how long you have been living in your present place of residence.

Always consider your choice of automobile especially if you have no credit. A used car can save you money on down payment and the interest rate on such cars is also low. Another place where once can get car loan with no credit history would be at a car bazaar where several private party car owners come together to sell their auto mobiles at affordable rates. They usually do not need a cosigner and they don’t even need to check your credit history.