i dont have credit history my credit is on 0 i have 21 years and i need a car is this a dealer that i give a downpayment and pay a monthly a amount ?

Asked by Apr 09, 2013 at 07:12 PM

Question type: Shopping & Pricing

15 Answers

Yes, there are used car dealers that will finance anybody. You will not get a bank loan, but either an independent finance company or a dealer that carries their own contracts will let you buy an inexpensive car, but at an obscene interest rate, like 15%, even 20%. There are laws that keep them from charging 30 % or more, they they prey on people that are in a position such as you are.You can probably get maybe $3,000 car if you have $500 or so to put down and don't be late, they LOVE to repossess, get the car back and keep whatever payments you did make. Good luck with it.

4 of 4 people found this helpful.

I've heard of cases where a credit score is so negative that it defaults to "0"...hoping this ISN'T that case for you. I would strongly recommend that you build your credit and FICO score by getting one or two retail store cards (like Walmart or Target) with SMALL credit lines and pay them on time EVERY month. Establish a positive monthly payment trend and your score will rise. Aside from this, follow David's advice above. Best of luck to you!

2 of 2 people found this helpful.

Yeah Racer but she said 'no credit' which can be as bad as low credit score, it is a way to build credit however, assuming all payments are on time

2 of 2 people found this helpful.

this is not a dealer on the internet. you want car ! you go, buy here ,pay here place. in your town you live . ask dealer around home you live. want BHPH dealer . thell see ya coming be happy!


No credit history is worse than a bad history. True, but soo silly like a lot off things now days. Go figure!

1 of 1 people found this helpful.

jimmy are you for real or is that a joke? WTF good is an 'underground" rating? I keep it legal,,whatever "it" is

3 of 3 people found this helpful.

me too david, but when your down and out you need maybe a start, if your a decent person ,you'll have a few who may trust you wont skate the repay! that gets the ball rolling if this car is for a job they can encumber the title .after a while you'll gain momentum .you can use this person for a reference on a loan in the future.show the paid title,the handwritten contract,receipts ect. its legal and less interest than most cards, check your card agreement, your falling behind reality,cards can become 33 to 34% if you get in a bind.and do they love that ! you got to learn what should be taught in schools after graduation on your own! that's why were 3rd world heading, keep up the good posts, but please check what's going on beyond these cars breaking down.


Let's just hope that ivettediaz isn't THAT desperate that she needs to deal with the local mafia or drug dealer to get a car....LOL! Guessing an underground credit rating is like getting Paulie or Lefty to strong arm the car dealer into selling you a car. Good Lord...

1 of 1 people found this helpful.

That's IT I quit. Now I have somebody telling me to use loan sharks as credit references. I don't know anything 'beyond graduation" I have more credit cards than Donald Trump jimmy I know how they work.

3 of 3 people found this helpful.

can you spot me a few hundred? six for five 3 months

Well said man. Then I get informed that at age 60 I don't know anything about what goes on in the world "beyond these cars breaking down" and you got it..everytime I see something on this forum that I think 'that one takes the cake, can't be anything more silly or ridiculous that that' along will come another one. jimmy has every right to his opinion and to post it, just like the rest of us, but good gawd telling me I am ignorant... coming from a guy that punctuation is apparently meaningless and unnecessary. I have formal training and education in a few areas and am self taught in many others.

3 of 3 people found this helpful.

hey someone deleted my suggestion for creative financing ! oh well better for the ones in the know! llregal got it , but alas, few intelligent soles left on the planit

"few intelligent soles left on the planit" very good there jimmy, shows who those souls are. On the planet. Nobody can delete your posts except you, Einstein, except the CarGuru Admin.

2 of 2 people found this helpful.

If your in need for a vehicle, then I would say go to a used car dealer and look around. Some of them offer financing without a credit score, while some don't, and others require a certain credit score. You could easily get a used vehicle for $1,000 down with a payment around $300 a month if you can swing that. Second option, actually go to your bank and see about getting a personal loan, and used the vehicle as collateral... then you'll just end up owing your bank a monthly payment instead of the dealer. Those are the only options I can think of off hand..


The dealers used to have first buyer programs. I am not sure if that still exists. I bought my first new car at 20 with no credit. Go see if that still exists.

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