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No-credit-check car loans might be tempting if you’ve been denied in the past. However, they can be extra-expensive and might not be worth the price. Consider the alternatives before signing up.
| Lender | Amounts | Eligibility | |
|---|---|---|---|
| car.Loan.com | Varies by lender | Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income. | |
| CarsDirect | Varies by network lender | Must provide proof of income, proof of residence, and proof of insurance. | Read review |
| RoadLoans | $5,000 to $75,000 | Be 18+, monthly income of $1,800+, reside in a state where RoadLoans operates and do not have open car loan with RoadLoans, parent company Santander Consumer USA or Chrysler Capital | Read review |
The most common place to find a no-credit-check car loan is through a dealership. You can find these directly or by using a connection service like CarsDirect.
Some direct lenders like RoadLoans also offer financing without checking your credit score.
Dealership financing is often faster than going with a lender. But unless you shop around, you might not get the best deal out there.
Lenders might not necessarily offer a better deal, but it’s easier to compare your offers by prequalifying. Some car loan providers offer online preapproval, which gives you an offer you can take to a dealership to finance a car or negotiate a better deal.
It depends on your situation. You might want to consider a no-credit-check car loan if you:
Even in these three scenarios, you might still want to consider some of the alternatives. You still might be able to find a better deal with bad or no credit.
Consider these potential pitfalls before taking out a no-credit-check car loan:
No-credit-check car loans work like any other car loan. The difference is the lender assumes that you have bad credit — possibly worse than you actually have.
These loans tend to have high interest rates and unfavorable terms for you as a borrower, so they should only be used when no alternatives are available.
Just because your lender isn’t checking your credit doesn’t mean it won’t consider other factors. Typically, you need to provide the following when applying for a no-credit-check loan:
Before taking out an expensive car loan that doesn’t require a credit check, you might want to consider your other options first:
Explore your options by minimum credit score, APR, loan term or requirements. Select the Go to site button for more information about a particular lender.
It’s possible, but your options are extremely limited and not very favorable — your best bet might be buy-here pay-here loans from a dealership.
If you have the time, consider building your credit score or saving up for a down payment before you apply.
A no-credit-check car loan may be a good option if you have nowhere else to turn and need a car, but it doesn’t hurt to see if you prequalify for a car loan with a better interest rate first. You can learn more about what your options are by reading our guide to car loans.
How can I find a reputable lender?
The key to finding an above-board lender is research. Make sure the lender has the right licenses and check independent online reviews from former borrowers. You should also carefully read the loan terms to make sure you’re getting what you’ve agreed on.
Can I take out a loan to cover the down payment?
It’s possible with a no-credit-check car loan, but you might want to avoid it. Taking on two loan repayments might make it difficult to afford your regular monthly expenses.
Will I have to pay any fees?
Yes. Check the loan contract for details on origination fees and any ongoing fees that apply. You should also check to see how much missing a payment will cost and if there are any other fees that the lender has failed to mention.
Will I need a cosigner?
You may not be required to have a cosigner, but if you do, you could increase your chances of getting approved by the lender.
Are there any ways to improve my credit score?
You can take several simple steps to improve your credit score and enhance your future borrowing prospects, like correcting late payments and using a credit-monitoring service to keep you informed.
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