Editor's choice: Carvana
- Most credit types welcome
- 45-day preapproval
- Seven-day guarantee
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It’s possible to get a car loan without a cosigner, even if with bad credit or no credit score. We reviewed over 100 car loan providers before creating this list of providers you might qualify with. It includes options for all credit types, first-time buyers and non-residents.
While these aren’t all strictly auto loans, these options don’t requirer a cosigner and consider factors other than your credit rating.
|Provider||Starting APR||Best for …|
|Boro||6%||International students and college students|
|Stilt||Varies||People with no credit score but healthy spending habits, including immigrants|
|myAutoloan.com||Varies||Bad credit borrowers|
|Carvana||3.9%||Buying a car online with bad credit|
Yes, you can get a car loan without a cosigner. However, your interest rate — and the amount you can borrow — will vary depending on your credit history and financial situation. Lenders prefer borrowers who are low risk, so if you don’t have the best credit, other aspects of your application need to be strong before you apply. Things like a consistent income and a down payment are signals to a lender that you can repay your loan.
You can find a car loan that doesn’t require a cosigner at a bank, credit union, online lender or dealership — but which is best for you will depend on your credit.
Those with bad or no credit may want to turn to online lenders and dealerships first. While borrowers with good to excellent credit could find more competitive rates at a bank or credit union.
If you have bad credit, your options for finding a car loan without a cosigner are more limited. Some online lenders specialize in car loans for borrowers with bad credit. And there are buy here, pay here (BHPH) dealerships that offer financing opportunities to borrowers who don’t meet a bank’s strict requirements.
These typically come with higher rates — usually in the double digits — since you pose more of a perceived risk to the lender. And you’ll also want to watch out for car scams like yo-yo financing and other tactics less-reputable lenders use to trick you into spending more.
If you don’t have credit or a cosigner, you may face the same limited options as a buyer with bad credit. This is because a lender can’t judge your ability to pay back the loan, making you more of a perceived risk than someone with even a small credit history.
However, there are still car loan options available for borrowers with no credit. It can help to have a big down payment and regular employment if you want to go through a bank or credit union. Otherwise, you might have better luck with an online lender or dealership.
You don’t necessarily need a cosigner if it’s your first time buying a car — especially if you have good credit. But if you haven’t had a chance to build your credit history, you’ll need to work with a provider that looks at other aspects of your finances like Stilt. College students might also want to consider lenders like Boro, which look at your grades and major instead of your credit score and income.
To get started, select your credit score and state. Then click Show me my personalized options.
While requirements for a car loan without a cosigner vary by lender, you’ll likely have a better chance of getting approved if you meet the following criteria:
When you’re looking for a good deal on a car loan without a cosigner, keep these tips in mind to help your search.
No matter your credit score, you could find a car loan provider without needing someone to vouch for you. Banks and credit unions often offer low rates to borrowers with good to excellent credit, while those with bad or no credit may want to look into online lenders and dealerships first.
Want to learn more about the car-buying process? Check out our guide to car loans.
Our answers to common questions about car loans with no cosigner requirement.
Borrowers with good credit generally don’t need to apply for a car loan with a cosigner. In fact, you can typically expect a decently low APR when you have good credit, a steady source of income and limited debts — sometimes as low as 2% to 5%.
Lenders want to see cosigners for borrowers who may be higher risk. So if you’ve been building your credit history and don’t have any major red flags — like low income or a lot of debt — you’ll find that a cosigner isn’t necessary.
You don’t need to have a credit score to buy a car without a cosigner. In fact, if you have the cash to pay in full, you won’t have to take out a loan or have your credit checked.
You’ll have more options if you have a credit score of at least 670 — what lenders typically consider to be good credit. But there are still financing options for borrowers with credit scores as low as 300.
How much a cosigner helps depends on the lender and your personal finances. A cosigner can help you qualify for a larger loan amount, since lenders typically consider your combined incomes.
They can also help you qualify for a lower rate if their credit score is higher than yours. In some cases, they can even help you meet a lender’s minimum credit requirements if your score doesn’t make the cut.
Maybe. There are lenders that accept 18-year-old borrowers who don’t have a cosigner. However, you may have to settle for less-than-optimal rates due to your limited credit history.
Lenders treat college students like any other borrower. There are car loans specifically to students — even if you don’t have a cosigner. But you’ll need to prove you have a steady source of income and can afford to make repayments to qualify.
It depends on your residency status. In most cases, you’ll need to have a credit history, down payment saved up and a Social Security number to qualify. Otherwise, you may find that a lender is unwilling or unable to approve your application if you don’t have a US citizen to act as your cosigner.
It depends on your credit history and financial situation. If you have good to excellent credit — or at least have a history of on-time repayments for your car loan — you may not need a cosigner to refinance. But if you have a low credit score or income, refinancing a car loan without a cosigner may be more difficult. In this case, you may want to increase your credit score and income before applying.
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