No Credit History at all? You Can Still Obtain a Car Loan

There comes a time when we all desire to purchase a car. But assume that we don’t have the kind of budget required to buy a car and until we do, the chances are for us to keep postponing our desire. So, how can you buy your dream car without further ado?

Cars undoubtedly are extremely expensive – and not every individual has the money to purchase one when he/she requires or desires so. Resultantly, he/she prefers taking a loan to pay off for the new car. However, the major problem in taking loan is that you require to have a very good credit history and if not so, at least a reasonable credit history.

So, what should you do if you possess no credit whatsoever? What if in the books of the lender due to your credit history you just cannot be trusted? Well, even under such situations, you can afford to buy a vehicle – you just require knowing where to take the loan from.

Can You Buy a Car Using Your Credit Card?

If you are an aspiring and determined buyer, then you may be having the money for paying the entire amount without getting yourself into a big debt. However, if you lack the funds for paying for a new vehicle, you might just be questioning yourself: How can I pay for buying a new car?

Well, the first option for you should be taking a loan but if you do not have any credit history at all, you might think that you will not get any lender at all. Which is the reason for you to think of your credit card – but can you use your credit card on such a hefty purchase?

Well, you can use credit cards for various multiple purposes: to take funds, or to make yourself appear genuine and authentic. Nowadays, people use credit cards for making monthly payments – and this makes the bank see that they are trust-able and reliable persons. Using a credit card also builds a sound credit history – which is why you might realize why its absence is dissatisfying and inconveniencing.

When you have a credit limit which is extremely good, you can even use your credit card for getting the funds for your loan. However, bear this in mind that a credit card has extremely high interest rates so, you might end up paying 1/3 of the car’s value as your interest. This is why you should prefer loan in place of credit cards.

Technically speaking, we will provide you a car loan irrespective of your not having a good credit history at a reasonable interest rate, so now you don’t really require relying on your credit card. This is because we do not even need your credit card history for giving you that loan.

Pros of No-Credit Car Loans

Don’t worry about bad credit rating-Irrespective of your credit history you can easily borrow money. All you have to prove is your repayment capabilities.

Easy and Quick-Since credit check is not required, the loan gets approved quickly. Now you don’t have to wait for weeks and days for your loan approval, with no-credit check loan your loan gets approved in a matter of few hours, even minutes.

Buy a Car with No Credit

With our no credit-car loans in Ottawa, we make it easy for you to ride home with the car or truck you really want with less hassle. You don’t have to worry about your credit score as long as you are able to prove that you can repay the auto loan on time.