Can I get a car loan with no credit?

Answered by Car Loans Expert Johnny on December 23, 2020

I've got no credit to speak of because I'm young and my parents cover most of my expenses. Will anyone give me a car loan?

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Johnny

Car Loans Expert

Many lenders do offer no-credit loans, but getting one depends on the lender and your approach. A good place to start looking for a no-credit loan is a bank or credit union that you already have a relationship with. If your bank does not offer the kind of loan you need, or if you do not have an account, an online lender may be a good option as well. However, you should do your research to make sure you only deal with reputable lenders.

Whichever option you go with, you should always seek pre-approval with any documentation that proves you can make the monthly payments for the full term of the loan.


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