Getting a New Car with NO Credit

Last Update: September 19, 2016

Some people, generally young people, have NO credit and have no idea how to get a car loan when they need a car.

The solution to the problem is to plan ahead. Save your money, put it in a bank account. Plan on buying a car for about $5,000. if you have saved $2500. Plan on buying a car for no more than $10,000. when you have saved $5000.

Of course, you must have a job, and you must have pay stubs for the job. The lender will likely want the pay stubs as proof that you are working. They may also want to see that you have saved the money in a bank account, and not under your mattress, or in your cookie jar.

Once you have paid your payments on time for about 12 months, you will have credit.

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ChrisScott Premium
So true. You must pay yourself first! People never plan to fail, they simply fail to plan.
MikeMartin1 Premium
Teddy Bear,
You are so right. People do fail to plan.
Too many people!!!
peter65 Premium
Thanks for the enlightenment, God bless you.
JudeP Premium
Good point :)
MikeMartin1 Premium
You are quite welcome.
Glad you enjoyed it.
onmyownterms Premium
Great advice, thanks for sharing.