Purchasing a vehicle for the first time with bad credit or no credit might be a little intimidating.
Anyone purchasing a car with a perfect credit score and a long history of credit typically has little-to-no issues getting a car loan or vehicle financing.
On the other hand, folks with no credit history or potentially bad credit history may face issues when vehicle shopping or applying for car loans, especially when shopping through conventional channels.
However, there are dealers, like Birchwood Credit Solutions, that specialize in helping first-time car buyers who have no credit or bad credit find and finance a vehicle.
How to Get a Car Loan with No Credit
If you happen to find yourself in a “less than perfect credit” situation, here are six steps to make the car buying process much easier:
Step 1: Don’t think the worst.
Although the process might be slightly longer, the chances are you will be able to get into a new vehicle. Dealers like Birchwood Credit Solutions, who have in-house financing and special car financing programs to help people with no credit or bad credit get vehicle financing.
Step 2: Get an understanding of your credit situation.
Often, first-time car buyers don’t even know that they haven’t established any credit. If you’re not sure what type of credit you have, it’s worth checking your credit or speaking to someone who can help you check your credit and walk you through your credit report.
Step 3: Get pre-approved.
When people think about going shopping for a vehicle, they often think about visiting a dealership, picking a vehicle, and then walking inside the dealership to discuss financing. When shopping for a vehicle with no credit or bad credit, you will work through the financing or pre-approval first. The process of getting pre-approved for your car loan analyses your income, expenses, credit score and report and determines what type of loan you qualify for.
Step 4: Get an understanding of your budget.
You should know what type of monthly payment you could fit into your current budget. Having an understanding of what your budget is before shopping will make the loan application and vehicle shopping process much easier as a first-time car buyer.
Step 5: Avoid applying with different auto lenders.
When shopping you might have the urge to apply with different lenders, but applying for multiple car loans can actually have a negative impact on your credit score.
Step 6: Apply with Birchwood Credit Solutions.
We specialize in bad credit car loans. Our process has been designed to be easy and hassle-free. Pick the vehicle you want, let us know your budget, and we’ll get you driving. It’s that easy.
We make auto financing easy
Get Started: Getting started is easy. Tell us what type of vehicle you’re looking for, your contact and employment details, and from there we can start working on getting you approved.
Loan Approval: Regardless of what has happened in your past, you deserve some credit. We work with you to assess your current situation and approve your loan quickly and hassle-free.
Shop and Drive: Our goal is to get you driving as quickly as possible. Once your loan is approved you can then shop our dealership inventory to ensure you drive away in that perfect vehicle. It’s that easy!
Apply online here and get your pre-approval in less than 3 minutes!