Car Finance with No Credit in Seattle Area can be tricky. While having no credit isn’t quite as bad as being subprime, it still prevents you from getting some of the best deals. That’s because a lack of a credit score—something that people who haven’t made any large purchases before or recent college graduates who may be dealing with debt—tells the lender nothing about the borrower, and makes you a potential liability to them. If you are unable to pay, they lose money. This is why many auto loans for people with no credit scores may sport high interest rates—insurance for the institution. However, there are ways to get around this, and ways to build up your credit at the same time.
Building Up Your Credit Score
If you can afford to wait for your car, you can try to build your credit. A good way to do it is take out some credit cards (even low-limit credit cards work), and begin a cycle of using them and then paying them off. Make sure to never go over a certain percentage of your available credit, as that can hurt you, but keep your credit active. If you absolutely need Car Finance with No Credit in Seattle Area, even getting a loan will help you build your credit up so that you can refinance later. Paying a large installment loan, like a car loan, is very helpful, and can give you a start to your credit history.
Convenient Car Finance With No Credit in Seattle
One of the best ways to get Car Finance with No Credit in Seattle Area is apply with a co-signer. This is a person who has good credit standing, and agrees to take on your loan if you, for whatever reason, can’t pay. Usually, this will be a family member. If a co-signer is out of the question, then you can provide a lender with bank account and pay stubs, or apply for pre-approval on your dealer’s website.
There are many avenues for Car Finance with No Credit in Seattle Area. Pierre Money Mart helps you find them. Contact us at 800-800-8553 to get more information, or head over to our website to browse our inventory to see if there is a used car that interests you. You can also visit our dealership located at 11577 Lake City Way NE in Seattle, WA 98125, to test drive any used cars that have caught your eye. We make it easy to finance a car, even without credit.