Shopping for a new car is an exciting time, but if you don’t have any credit built up you may be wondering, “Will I be able to finance a car with no credit?”. While the process may be slightly more involved than it would be if you had a top-notch credit score, it is possible to finance a car with no credit.
Allow the experts in the Nissan finance department at Bedford Nissan show you how.
Why Credit Matters
Lenders like to know that you have a history of paying your debts on time. This gives them the confidence to insure their loan to you will be repaid on time and will likely not be defaulted on.
While it is standard for creditors to run a credit check while going through the loan approval process, there are other factors they look at as well, like employment history and income.
How to Get Better Terms
Without a credit history, lenders will have to take a chance on you, and this might result in higher interest rates. There are a few steps you can take to improve the chances of getting more desirable terms on your Nissan finance loan.
- Get a co-signer
- Have a sizeable down payment
- Be prepared to prove a reliable income source
Nissan Finance Loans in Bedford, Ohio
When you’re looking for a new Nissan, Bedford Nissan is prepared to assist you in securing a loan to meet your needs, whether you have excellent credit, no credit, or poor credit. Our financial services department goes above and beyond to secure personalized loan packages that are tailored specifically to you and can overcome most credit issues.
Fill out our free credit application to get started on the pre-approval process and then browse our inventory. We look forward to helping you get behind the wheel of your new Nissan while building your credit!
Connect with us
