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No Credit

Are you a first-time car buyer? Chances are, you may not have any credit background to present to the dealership. Of course, everyone must start building credit somewhere. Not only that, but a vehicle is required for most commuters. So, what do you do in this situation? We recommend applying for a car loan at U.S. Auto Sales.

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What is a No Credit Car Loan?

No credit car loans are specifically designed for buyers with minimal or no credit. Instead of only basing the rates off the borrower’s credit history, the lender will also review other important information about the customer to make sure that they can afford the loan. This includes income, employment history and status, and proof of residence. Most shoppers that apply for a no credit car loan qualify for financing.

Tips for Establishing Credit with Your Car Loan

You may want to establish your credit before applying for a car loan. Perhaps you wish to build your credit with your no credit car loan. Regardless of how you approach the process, you may want to consider the following few tips to help your credit score grow:

  • Review your credit report every year for discrepancies and contact the credit bureaus if you notice fraud.
  • Get a credit card or small loan to begin paying off debt and building credit.
  • Pay every bill on time every time. Late or missing payments will hurt your credit, but consistent on-time payments will help build it.
  • Open a bank account to have a safe place to store your extra cash while establishing a good relationship with your bank.
  • Stay employed. Not only will keeping your job help you stay in a good financial position, but many lenders review employment history when determining your eligibility for a loan. If you are not employed, be prepared to provide other proof of income.
  • Use credit regularly and responsibly. Credit doesn’t end when your loan does. In fact, it can take months or even years for a credit score to dramatically improve. Once you get lots of good credit history under your belt, you’ll find it easier to obtain financing in the future.

Get Qualified for a No Credit Auto Loan at U.S. Auto Sales

 U.S. Auto Sales, along with our affiliated finance company, works hard to help a large variety of shoppers finance their vehicle, including first-time car buyers who may not have any credit. Get in touch with our financing team to get pre-qualified for a no credit auto loan with us. If you have questions, don’t hesitate to ask. We’re happy to help!

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