Car Loans: No Credit Car Loan

No matter where you live, there are bad credit car loans programs available nationwide! Even if you currently have tax liens, garnishments, judgments, no credit or a bankruptcy there are companies that could help you obtain an car loan or refinance your existing car loan, saving you time and money. Don't despair. Here are a few tips to help you establish credit in your own name.

~ The best way to establish a credit history is to apply for a small loan or line of credit from your local bank or a credit card from a local department store. Ask whether they report to a credit bureau. If they don't, having the card or loan won't help you establish credit.

~ To get a credit card without a cosigner-signer, you must be at least 18 years old and have a source of steady income. Gas cards are relatively easy to get. Apply for one and use it to establish credit, but pay it off every month to show that you can pay your bills responsibly.

~ If you can't get a small loan or gas or department credit card on your own, try to find someone to co-sign for you. Again, make payments regularly and on time.

~ If you don't have a checking account, open one. You have very little credibility with lenders if you don't have at least a checking account and preferably a savings account as well.

With careful planning and a little knowledge of how lenders issue credit, you CAN establish a credit history fairly painlessly. There are many businesses waiting in line to take advantage of you by charging exorbitant fees or interest rates, so be careful out there.

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