How to Get a No Credit Car Loan

by Contributor ; Updated July 27, 2017
Get a No Credit Car Loan

How to Get a No Credit Car Loan. You can still get a loan to buy a car if you have no credit history. Although certain lenders will refuse to help you, there are a number of ways to get a no credit car loan.

Step 1

Set up some accounts in your name to prove that you are responsible with your money. Most credit agencies will look favorably upon someone who has home utilities and a cell phone account in good standing. You may be able to get a reference that says you pay your bills on time.

Step 2

Open a checking and savings account. If you don't overdraw your accounts or write bad checks, then your bank should write you a reference to help you get a no credit car loan.

Step 3

Ask your employer for a statement of proof of employment. This document should say how long you've been working for this company and the likelihood that you will have this job for the next few years.

Step 4

Speak with friends and family members to find someone to cosign your no credit car loan. Get someone with a good credit ranking to be your cosigner.

Step 5

Look for different no credit loan options at various banks and credit agencies. Your bank might be able to finance your loan if you have been in good standing with it for a few years. Ask about the possibility of refinancing your loan for a lower rate after you build up credit.

Step 6

Make your no credit car loan payments on time. Timely payments will help you build a good credit history and open up more possibilities for loans in the future.


  • You may want to get a credit card to help you build some credit. You will need to pay your balance on time for several months before seeing improvements. Always review your monthly budget before accepting a no credit car loan to be sure you can still afford your other expenses.


  • If you don't pay your car loan back, it will also hurt the credit of your cosigner. Don't include a car warranty on your loan if you buy a used car. Buy the warranty separate and after the car purchase to avoid fees and more interest payments. You might be forced to find a car loan before you can pick a car, as the amount of your loan could determine which cars you can afford.

About the Author

This article was written by PocketSense staff. If you have any questions, please reach out to us on our contact us page.

Cite this Article A tool to create a citation to reference this article Cite this Article