Financing a Car with No Credit
Shopping for a vehicle can be exciting, but also intimidating, and many Raleigh-area drivers ask us “Is financing a car with no credit even possible?” The answer is yes. Whether you’re dealing with zero credit or bad credit, car finance success is in your future with Hendrick Chevrolet Cary at your side. Learn all about financing options below, and be sure to get in touch with us in Cary for more information.
Basics of Financing a Car with No Credit
One driver in Apex may have a different scenario than another in Cary, so keep in mind that all financial situations are different. You might finance with a bank, you might finance with a dealership. However, financing a car with bad credit or no credit presents specific challenges to keep in mind. Here are some tips to put your best foot forward:
- Prepare for an Uphill Battle: Financing a car with bad credit or no credit is more difficult than financing with a perfect credit score, but it’s possible. Expect higher down payments and higher interest rates.
- Check Your Credit Score: Do you know your current credit score? Knowing your credit score helps you crunch numbers, and it also shows your lender that you’re a responsible candidate who has done the research.
- Complete Applications Quickly: If you are applying to multiple lenders, send all of your applications within a 14-day period. Otherwise, you might look like a credit risk.
- Prepare to Negotiate: You’ve done the research, now negotiate with confidence. A successful finance deal benefits both parties, so make your case and negotiate to get the best possible deal.
- Lease or Loan: While financing is a terrific option, you could also consider leasing a car if you have no credit or bad credit. Leasing is generally more affordable for you and less of a risk for the dealership, so it can be a great choice.
Find Your Financing Solutions at Hendrick Chevrolet Cary
Whether you’re ready to apply or you still have questions, feel free to contact us at Hendrick Chevrolet Cary to find out all about your financing options in the area. We’d be happy to share our expertise with you, so stop by our dealership and learn more!