How can i get a car without a down payment

New Roads Auto Loans offers zero down bad credit auto loans. Zero down payment auto loans are for those having little or no cash for down payment. Auto loans with zero down payment makes buying a new car easier on your wallet. We will work with you and provide financing with zero down payment. Keep your cash and let the professionals at New Roads Auto Loans help you find your perfect vehicle. Through our parent company, we have been providing auto financing to consumers since 1991.

Using New Roads Auto Loans to get your financing in place before you shop for a vehicle takes the uncertainty out of getting a vehicle. We know how to finance customers into zero down bad credit auto loans and we'll be with you when you shop for a vehicle. We'll support you though out the financing and vehicle purchase process-it's good to have our Loan Agents on your side!

New Roads Auto Loans will work with you to find the right payment amount for your budget. And New Roads Auto Loans makes loans to consumers with bad credit-with ZERO down payment. That's right, you keep cash in your pocket AND get a new vehicle to drive.

Getting financed for an auto loan and budgeting a down payment can be a challenge, let New Roads Auto Loans show you the way. Check out our reviews-we've helped people just like you get a vehicle. And remember, New Roads Auto Loans is backed by Consumer Portfolio Services, Inc., (CPS). CPS has been in business since 1991. We have financed over 800,000 vehicles for consumers with credit problems-we can even show you how get a loan with a zero down payment. It's important that you choose a company that is secure, trustworthy, treats you right and protects your personal information. New Roads Auto Loans is that company.

It can be extremely difficult to find a lender who accepts bad credit car loans with no down payment. Applying for loans only to end up being declined is exhausting, and by applying too often, you can even make your credit score worse in the process. To help you, Good Fellow’s Auto Wholesalers has put together this guide on how to be approved for a zero down payment car loan.

What is a Down Payment?

The purpose of a down payment is to help assure lenders that you are serious about your loan. It also protects them just in case the loan isn’t repaid. By paying a small amount upfront, your monthly payments can be brought down to a manageable level. Most car loans prefer a 20% down payment, but the average is around 12%. Although typically this type of payment is required, there are a few alternatives that will allow you to drive away without needing to offer a down payment.

Improve Your Credit

One way to get a car loan without a down payment is to apply when you have a good credit score. Lenders are more inclined to offer better terms to applicants with a strong credit history and score. Generally, a score of 680 and up are required to secure a zero down payment car loan with a good interest rate. If your score is less than 680, it’s a good idea to increase your score before applying for a lona.

Use a Cosigner

The best way to get approved for a bad credit car loan with a low or $0 down payment is to find someone with a higher credit score that you can use as a cosigner, such as a friend or parent. The person who signs with you will share ownership and payment responsibility, so it is important to pay your bills on time every month.

Qualifying for a Zero Down Payment Auto Finance

No down payment loans present the highest risk for lenders. Before an applicant’s approval, their risk levels will need to be assessed. Our auto finance experts will mainly review your credit history and your income when you apply. We do this to ensure that you can afford your monthly loan payments easily. An average car loan payment should never be more than 10% of your monthly gross pay. The more you make, the more likely it is you will be approved for a no down payment loan.

There are many reasons for wanting a car loan with no down payment, but the most common is for its affordability. However, being able to afford a car loan is more than just tossing money down for the down payment. The value of the car and the monthly payments also play a big part in the loan approval. Cars that are fairly priced and likely to maintain a steady value will have a higher chance of being approved for car loans than those which are not.

For applicants that have bad credit and are seeking an auto loan with no down payment, the process is a bit different. The car chosen will have to be considered affordable, and if it is a used car, the mileage and year of the car will be taken into account. The lender will consider all of these factors when choosing whether or not to approve your no down payment car loan.

Why Choose Us?

Many traditional lenders such as banks will only offer no down payment loans to applicants with stellar credit. However, while a steady income is important for a no down payment car loan, not everyone has perfect credit. If you are looking to secure a loan for your new car but have less than perfect credit, Good Fellow’s Auto Wholesalers can help you. Give our auto loan experts a call at 1 (855) 581-9590, and we’d be happy to discuss your options with you.

How can I get a car without a downpayment?

What credit score is needed to buy a car with no money down?

Can you finance without downpayment?

Can I get a car with 500 credit score with no money down?