If you are in need of a car and you have bad or no credit don’t be surprised that some dealers will run your numbers and then either decline to offer a loan or they will demand a cosigner. The reason for this is quite simple; the dealer relies on their computer, they feed your information in and wait for the results; bad score often means no thanks.
If this little scenario is a reflection of your situation, you have plenty of company. About one in six Americans are in the same boat. Furthermore, don’t despair, there are bad credit no credit cars in Oklahoma City. If you need a car you can get financing.
You might be able to improve your credit score:
To get a credit score two things are required; a past credit history and recent credit activity. If you lack either one of these requirements the report probably will come back with no score or a bad score. If you have a working credit card, even though the limit may be small, use the card for a small purchase, something you know you can pay off when you get the bill. If you do this, you will have a credit score.
If you are a recent grad or still in school and you have no credit score get a credit card before you apply for a car loan.
You may pay more:
If you are looking into bad credit no credit cars in Oklahoma City there are dealers that are happy to work with you although you can expect a higher interest rate, perhaps something in the range of 10 to 20 percent. You can usually get closer to the low end if you make a down payment.
If a decent down payment and higher interest rates are going to stretch your budget the solution is to scale back your expectations and buy a basic model car.
Bad credit no credit cars in Oklahoma City are available, all you need is evidence of employment, a couple of recent pay stubs, proof of your address, your drivers license and a few references. With this information Business Name will be happy to approve you for a car loan.
