Is it possible to get a new car with no credit/no cosigner?
Probably a stupid question and impossible but it doesn't hurt to ask… I'm 18 I've been employed for 5 months and I make about $350 a month (pretty much nothing but I'm looking for more jobs) I currently have a 2000 Honda civic with a busted drivers door and I would like to sell it to go as a down payment. Is it possible to go to a car dealership that does not check for credit? I've never bought my own car so I have no idea how this works? Lol I could probably do a $400 down payment if that's possible? Probably not but all the information you can give me will be great. Also I can probably pay about $150 a month for a new car. I have no one to cosign and I have no credit so I'm pretty much screwed and inexperienced with the real world.
No. Most buy here pay here lots over charge for cars, I mean thousands above the actual value. And sub prime lenders are risky, they require the price of the car to be way over full retail, tend to "lose" payments then rack up lots of late fees, then look to repo the car after you almost pay it off. Not all companies, but many, and no way to know which ones are going to do these tactics.
Save up and pay cash.
NO. Might as well keep the car. Not sure if $400 will be a good down payment & most places won't sell you a car with low employment history
< Is it possible to go to a car dealership that does not check for credit? >
Only if you are paying with cash
< Also I can probably pay about $150 a month for a new car. >
No co-signor and no credit? I would say your chances are unfortunately poor.
No chance.
And if it makes you feel any better, you stand no chance with $2000 down.
Try back when you have good credit, several years on the job and income over $1500 per month.
Buy here pay here dealers would sell you a car. But it might be worse than the one you have and you'd pay at LEAST $300 per month.
Not at 18 it isn't.
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