Can You Finance a Car with No Credit?

Accountant working at the office

While it may be a bit more difficult, it is possible to finance a car with no credit! Learn more about no credit car loans, financing a car with bad credit, and find other car financing tips with us at Covert Chrysler Dodge Jeep Ram before making your way to our finance department for a loan of your own.

Financing with Bad or Even No Credit

When you’re financing a car with no credit, you’ll have to keep in mind that the down payment may be more than the average and the interest rates may be higher. Be sure to figure out a budget and leave some wiggle room. A few things to keep in mind when financing a car with no credit include:

  • Ask questions and don’t assume you won’t be approved. The first offer you receive might seem like your only option, but it isn’t. Ask questions and see if there are other options that would better benefit you. If not, compare this offer to those from the bank or a credit union.
  • Know your budget and your credit score (if you have one). Applying for financing can hit your credit score hard. This is why it’s recommended you keep all applications within a 14-day period to limit the potential damage.
  • Separate price negotiation from financing. The first offer isn’t the only one. Many dealerships go through multiple lenders.
  • Be prepared for a higher cost. You may receive higher interest rates, a larger down payment, or both if you have no credit.
  • Leasing might be a better option. See what the dealership offers in terms of a lease. Though these payments might also be higher than the average lease, it’ll be cheaper than if you were attempting to purchase a vehicle.

Ways To Fix Your Credit Score

Your credit score can take a real hit when you submit multiple applications over a period of time. In order to minimize the damage, as mentioned above, submit each application within a 14-day period. In the meantime, or even before you start applying, try to boost your credit score. You can revive your credit score by using a credit card on small things and immediately paying them off. You’ll have a good credit score in no time at all.

Apply for a Loan at Covert Chrysler Dodge Jeep Ram

The finance team at Covert Chrysler Dodge Jeep Ram can help you obtain the bad credit car loan that’s right for you and your financial situation today! Learn more about our bad credit car financing options, leasing options, and more. Or if you’re ready to get the process started before you come in, apply for financing online. Contact Covert Chrysler Dodge Jeep Ram in the meantime with any questions.

 

More From Covert Chrysler Dodge Jeep Ram

  • 2019 Jeep Cherokee Interior Features

    The 2019 Jeep Cherokee interior offers drivers from Westlake and beyond an array of amenities and space to give their daily drives mode convenience and entertainment. No matter if you’re looking for cutting-edge technology features or ample cargo space, the new Jeep Cherokee provides. Explore the interior of this Jeep SUV, then make your way…

  • How Do I Reset the Check Engine Light on my RAM 1500?

    Are you wondering how to reset the check engine light on a RAM 1500? It’s easy! Simply follow the following procedure: Disconnect the negative cable from your battery Wait 20 minutes Reconnect the negative cable By doing this, you should reset the internal computer on your RAM 1500, and in turn, reset your RAM 1500…

  • 2019 Jeep Wrangler Accessories

    At Covert Chrysler Dodge Jeep Ram, we offer a host of Jeep Wrangler features to update and upgrade your drive. From performance to appearance, accessories for the Wrangler will help you get ready for the streets of Round Rock and the trails of Leander. Learn more about customizing your new Wrangler at Covert Chrysler Dodge Jeep Ram in Austin. Contact Us Parts Department Interior…

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

512-730-3300

Call Now

8107 Research Blvd • Austin, TX 78758

Get Directions

Today's Hours:

Open Today! Service: 7am-6:30pm

Covert Chrysler Dodge Jeep Ram

8107 Research Blvd Austin, TX

Phone: 512-730-3300

http://maps.google.com/?q=8107%20Research%20Blvd%2C%2C%20Austin%2C%20TX%2078758

Service

Phone: 512-710-3877

8107 Research Blvd Austin, TX

Mobile Service

Phone: 512-893-6887

8107 Research Blvd Austin, TX
30.352832 -97.713552
[schema type="organization" orgtype="LocalBusiness" url="www.covertchryslerdodgejeepram.com" name="Covert Chrysler Dodge Jeep Ram" description="" street="8107 Research Blvd" city="Austin" state="TX" postalcode="78758" country="US" email="tjkendall@covertauto.com" phone="512-730-3300" logo="https://di-uploads-development.dealerinspire.com/covertcdjr/uploads/2018/12/Covert-OG-200x200.jpg"]
Covert Chrysler Dodge Jeep Ram
Covert Chrysler Dodge Jeep Ram
8107 Research Blvd
Austin, TX, 78758 US
512-730-3300
https://di-uploads-development.dealerinspire.com/covertcdjr/uploads/2018/12/Covert-OG-200x200.jpg
Covert Chrysler Dodge Jeep Ram 30.352832, -97.713552.