No Credit Auto Loans 

Financing for First-Time Buyers

Auto Financing for Any Credit | Apply Online. Drive Today.

How Do I Know If I Have a Credit Score?

In the world of finance, credit score is king. It represents your buying power, how appealing you are to banks, and is the sum of all your past credit history on record. Your credit score is a numerical rating usually between 400-800. The number is based on the reports on your credit history such as payments (late and on time), debts, and past charge-offs.


The first step to any large financial decision is understanding your credit score and history. Going into the dealer blind can leave you at a disadvantage in negotiations and harm your score through multiple “pulls” by lenders, Everyone is entitled to a free credit history report once a year from each of the major reporting bureaus (Trans Union, Experian, Equifax). The easiest way is to request your reports from all three bureaus at


Learn more about Understanding Your Credit Score

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How to Build Credit


Most of your finacial history, such as medical bills, loan payments and credit cards will appear within your credit history report. On-time payments and any positive activity will improve your score. However, all credit is not created equal. Revolving credit, anything that is paid in variable amounts such as credit cards will inflate your score but will not have quite the impact as installment credit, where the aount is uniform and always due at the same time. 

Revolving Credit  Revolving credit can be used continually the borrower can spend the money loaned and borrow again after repayment. Credit cards and lines of credit are examples of revolving credit.


Installment Credit

With an installment loan, the borrower takes a lump sum which is repaid on a fixed schedule until the terms of the loan are fulfilled. 

How Much Does an Auto Loan Cost?

When purchasing a vehicle, budgeting is crucial. If you do not plan ahead you can end up with a high payment which could result in you defaulting on the loan and damaging your credit. Nerdwallet recommends spending less than 10% of your monthly income on a car payment and less than 20% overall on vehicle expenses (gas, insurance, maintenance.). For example, if you make $2500 per month you should aim for a payment of $250/mo or less. The average car payment in Ohio is $335 for used vehicles and $535 for new vehicles.

The monthly and upfront cost of your vehicle may be the most pressing factors but they are not all the matters. The cost of your vehicle is also determined by the length of the loan term. The longer the loan is financed the more money you will pay in interest. Auto loans usually range from 36 to 72 months with the most common term being 60 months (5 years). $10,000 financed for 5 years should come to a payment of about $200.


It is recommended you compile your monthly income and expenses before planning your budget. Use our Free Auto Loan Calculator to estimate your payments based on term, interest, and money down.

Free Auto Loan Calculator 

How to Increase Chances of Getting Approved

If you are not quite ready for that auto loan or are having trouble getting approved for the terms or the vehicle that you want, there are some options to increase your buying power.


Use a Cosigner - a cosigner is when a second individual sign for your vehicle with you and will be equally responsible for the loan terms. Both you and your cosigner will receive credit reports for the loan and will be equal owners in the eyes of the bank. A cosigner can greatly improve your chances of getting approved for better terms, depending on the singer’s credit.


Down Payment or Trade - Using a down payment or the trade value of a vehicle you already own on your new loan will not only lower your payment but it can help you get approved for a more expensive vehicle.


Build Credit - A cheaper car, another type of loan, or to a lesser effect, credit cards, can help you build your credit before you try to get approved for your dream car.


Auto Loan with No Credit History
Auto Loans with No Credit - First Time Buyers

How It Works

1. Start from home by completing our 3-minute application.


2. After completing your application we will personally match you with a local dealer that best suits you.


3. Your consultant will call you to set your appointment, and inform you of any needed documentation


4. Once the best terms for you are determined, simply visit your local dealer and select your vehicle!

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Even with No Credit