Can You Finance a Car with No Credit?

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If you’re in the market for a new vehicle but you’re wondering whether you can finance a car with no credit or poor credit, you’re in the right place. The finance team here at Honda Universe is here to help you explore your options. Learn more about bad credit car finance below and discover how you can get out on Lakewood roads no matter your situation.

Financing a Car With No Credit or Poor Credit

First, we want to note that financing a car with no credit is a fundamentally different position to be in than financing a car with poor credit, but we understand that going without a vehicle is not an option for most people. Be sure to ask about the nuances of no credit vs. bad credit car finance with your lender— whether that’s our dealership, a Lakewood area bank, or credit union. No credit is not ideal, but it’s not impossible to obtain a car without a credit history.

When it comes to financing a car with bad credit or no, here’s what to know:

  • Expect higher interest rates: If you need a vehicle and don’t have the time to spend strengthening your credit score, expect to pay higher-than-average interest rates. Knowing this beforehand will help you prepare accordingly.
  • Know your budget: Know your budget and stick to it. This will help you shop with confidence and prevent yourself from getting in over your head.
  • Shop around: Your first quote is most certainly not your only option. If you get a rate from a Toms River area lender that seems astronomical, be sure to compare that to other offers in the area. Here at Honda Universe, we strive to offer the most competitive interest rates for those looking for bad credit financing.
  • Negotiate: If you’ve done your homework and shopped around, you may have some leverage to negotiate. While there may be little wiggle room to work with when financing a car with no credit, it’s worth inquiring about the final numbers.
  • Consider a lease: If you have a reliable friend or family member you can bring on as a co-signer to bolster your credit score, leasing may be a better route for you!

Explore Your Finance Options at Honda Universe

At Honda Universe, we are ready and willing to guide Manahawkin neighbors through the financing options so you can get behind the driver’s seat of a car you’re proud of. To learn more about all the available ways to bring home a new or pre-owned car, contact our knowledgeable and friendly finance team today!

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(732) 587-6306

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1085 Ocean Ave (Route 88) • Lakewood, NJ 08701

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Open Today! Sales: 9am-6pm

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Honda Universe 40.0844487, -74.1735865.