How to get a car loan without credit or a cosigner

There are times when buying a car just isn’t optional. But what do you do if you don’t have any credit or a cosigner? It’s still possible to get a no credit or bad credit car loan — you just need to know where to look.

“Buy Here, Pay Here” Car Lots

A popular option for those who don’t have credit are “Buy Here, Pay Here” car lots. These are car dealerships that have their own financing options: you can go right to the dealership, purchase a car, and sign paperwork to finance it at the same time. Many of these lots advertise that they will write a loan out to anyone: it doesn’t matter if you have no credit or no cosigner. Get Used Cars at AutoVillage at reasonable price

Of course, there are some substantial downsides to this. Primarily: cost. “Buy Here, Pay Here” car loans tend to have very high interest rate and lengthier loan terms, so you may find yourself paying off an expensive car for up to seven or nine years. That being said, it’s still an option if you absolutely need a vehicle.

Work With Your Local Credit Union

Credit unions tend to be more forgiving of credit and cosigner issues than banks, as they judge every loan on a case-by-case basis.

Working with a credit union will increase your odds of being approved for a loan, especially if you’ve been a customer of that credit union in the past.

Credit unions are much more affordable than other lenders, though they may ask that you improve your credit somewhat before purchasing.

Another option is to acquire a loan through a Buy Here, Pay Here lot and then later refinance it at a bank or credit union, at a substantially lower rate.

You do have options even if you don’t have credit or a cosigner. Your first step should be to apply to banks and credit unions — getting a quote from multiple locations for an automobile loan will only hit your credit report once, allowing you to shop around. It’s always worth Searching for used Mercedes C-Class car prices on

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