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Where can one get a car loan with no credit history or credit card?
Wiki User
∙ 10y ago
Not having a credit history or credit card is not the same thing as having bad credit history. By having a larger down payment, the amount of risk to the lender is decreased. Some banks specialize on loans for people with no credit history, and it is always a good idea to approach these first. Some lenders may impose certain vehicle choices on the borrower, as certain cars are a more solid investment than others.
Wiki User
∙ 10y ago
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What is a tradline?
any credit line that you have- credit card, car loan, mortgage and student loan
What provides collateral to secure a car loan?
car
Can you get a car loan with good credit but no credit history?
It's possible, yes.
Should you close a credit card before getting a car loan?
NO
Which of the following is an example of secured debt?
credit card
What are cosigner qualifications for a car loan?
You select a cosiger have good credit history is big qualification for car loan.
What is the difference between car loan and personal unsecured loan?
A car loan is a secured loan. If you don't pay the car loan, the lender can repossess the car. A personal loan is a loan based on your credit worthiness as judged by credit reporting agencies like Equifax. This "credit rating" is usually based on a FICO score, which views a variety of factors such as credit experience, lines of credit outstanding and payment history with other companies.
How do credit card companies use a person's credit report...?
When a person applies for a car loan, mortgage or credit card, the lender determines if lending money to the consumer will be a risk. Credit scores are one way to help credit card companies make the decision to issue credit. To determine if that person should be given a loan or credit card (apex)
If I have an auto loan can I get a second auto loan for another car?
Depends on your credit history That would be up to the lender.
Can you use your credit card to pay your monthly car loan?
I don't have an exact answer but for sure Chase and Capital One don't take credit cards. You can use credit card checks but no direct debit from credit card.
Where can a person get a used card loan when they have bad credit?
You can get a used car loan (no such thing exists as a used card loan) from places like a used auto dealership. However, your monthly payments will be a lot higher than someone with good credit.
Should I carry a balance on my Credit Card to improve my Fico score. I'll be applying for a car loan and I wondered if having a balance on my credit card make my application look better?
So long as a card isn't maxed its not bad especially if there is a good payment history to be seen
