What’s the best way to get a small loan ($4k) for a car with no credit? I am a college student and am not able to get someone to cosign on a loan for me. I do have a well-paying summer job, and will have a part-time job during the school year- but don’t make $1k or more, so I can’t commit to a loan that requires a minimum monthly income. I know the interest rate will be high, but where’s the best place to go for a loan when I have not yet established credit?
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Finding a bad credit auto lender take a little bit of work to find the right one. When looking to buy a new or used car, the dealer may offer bad credit financing, or refer you to a lender. Car buyers should consider arranging their own financing.
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Unless you have a 700 or higher credit score, it might be a good idea to look at your credit report and see what you can do to improve your credit score. A 700 score will get you the best rates at the best loan terms.t.
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