Can You Finance a Car with No Credit?

How Can I Get Car Financing with a Bad Credit Score?

Are you interested in financing a car with no credit? Financing a car with bad credit is difficult, but not impossible, and preparation is key if you want to turn your dreams into realities. Take advantage of our bad credit car finance tips and apply for credit with Jaguar Annapolis today!

Bad Credit Car Finance Tips

If you’re financing a car with no credit, you’re going to need to prove that you’re a smart investment for the lender. This means that you absolutely have to come prepared, you need to show proof of income, and you need to be ready to pay more in interest month-to-month.

Why is financing a car with bad credit so difficult? Whether you choose to finance with a bank or a dealership, the lender needs to know that they’re going to get their money’s worth! In normal cases, a credit check will show how likely a person is to pay back their auto loan with interest. If you don’t have any credit, you’ll need to go the extra mile to secure your purchase.

  • Ask questions, and keep your head up. If you’ve been turned down before, financing a car with no credit might seem impossible. It’s not! Show that you’re serious by asking the right questions, and be sure to explore all of your options!
  • Take steps to build your credit. If you have no credit, it might just be that you’ve never been in debt before! Opening a credit card or taking out a small loan could dramatically improve your chances of getting approved, but only if you make all your payments on time.
  • Make all your applications at one time. It pays to shop around when you’re looking for the best loan, but if you’re making a lot of credit applications, it could have a negative impact on your score (if you have one). Keep all applications within a 14-day window to prevent negative credit reporting.
  • Expect to pay more. A driver with no credit is a bigger risk! There’s no way around it. You should expect to pay a higher interest rate, and you should have proof of income that shows you can make payments on time.
  • Consider leasing.The approval rate for leases tends to be slightly higher than the approval rate for auto financing. Plus, making your lease payments on time could help to build your credit, putting you in a better position for the next go-round.

Financing a Car with Bad Credit? Come to Jaguar Annapolis.

Jaguar Annapolis is proud to work with drivers from all walks of life, and if you’re financing a car with bad credit or no credit, you can count on our financing team to help you get behind the wheel of one of our affordable luxury cars.

Hoping to reduce the amount you need to borrow? Check out our lineup of used cars priced under $10K!

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Jaguar Annapolis

101 Ferguson Road Annapolis, MD

Phone: (410) 907-8300

http://maps.google.com/?q=101%20Ferguson%20Road%2C%20Annapolis%2C%20Ann%2C%20MD%2021409

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Phone: (410) 907-8300

101 Ferguson Road Annapolis, MD

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101 Ferguson Road Annapolis, MD

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101 Ferguson Road Annapolis, MD
39.0177406 -76.4824321
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Jaguar Annapolis
Jaguar Annapolis
101 Ferguson Road
Annapolis, MD, 21409 United States
(410) 907-8300
https://di-uploads-pod6.dealerinspire.com/jaguarannapolis/uploads/2016/07/Jaguar-OpenGraph-1.jpg
Jaguar Annapolis 39.0177406, -76.4824321.