Auto Loan with no credit? If so, how bad is the interest?
June 8th, 2009
| Tags: Auto Credit, Auto Loan, Capital One
urbaninja54 asked:
I’d like to get a loan for say, $35k, or even better; a blank check. Capital One I know does blank checks, but I’m not sure if they take people with no credit history. I have no credit history and I’m wondering if I can get a loan this way and what the interest rates will be like. Anyone know? I don’t have BAD credit FYI, just NO credit whatsoever. I can get a cosigner, but I was also curious if a cosigner can “lessen” the amount of credit that is built on my behalf during the payment period of the car.
Elsie
I’d like to get a loan for say, $35k, or even better; a blank check. Capital One I know does blank checks, but I’m not sure if they take people with no credit history. I have no credit history and I’m wondering if I can get a loan this way and what the interest rates will be like. Anyone know? I don’t have BAD credit FYI, just NO credit whatsoever. I can get a cosigner, but I was also curious if a cosigner can “lessen” the amount of credit that is built on my behalf during the payment period of the car.
Elsie
I’ve seen one from a friend of a friend with 26%. I just told him to refinance his since I he paid it regularly with no late payments. yes, you can refinance or take of it with his equity line, etc..if you own a home (of course, if there is any equity left on the house)
No credit history – no $35k, guaranteed!
Going to have to build some credit history.