Can you finance a brand new car from the dealership with no credit?

Question

Can you finance a brand new car from the dealership with no credit?

Answer 1

No. Not unless you have a good cosigner or are in college.

Answer 2

In order for you to get your loan with no credit at all you will need either a co-signer or a large downpament.  Downpayment would depend on how expensive of a car.  

For a $20,000 car probably around $5,000.  For a $40,000 would be in the neighborhood of $25,000.  Or with a solid co-signer it is possible to do $0 down.  This is just a round about being I can not see your credit file, job history and so on.

Hope this helps

Answer 3

I had a friend who tried it.  They reluctantly would do it but with an insane interest rate of like 22% !!!

Answer 4

You might want more information about  leasing and financing for cars and tips on how to avoid mistakes in car buying. It's best that you know what you are getting into. :)

Try to check out these sites:

http://www.carleasingsecrets.com/

http://finance.yahoo.com/how-to-guide/lo...

http://cartipsnetwork.blogspot.com/

http://carmoneylogues.blogspot.com/

Answer 5

Not without a co-signer.