Overhaulin'

Can I buy a used car without any credit history?

I have lived without credit cards because I have been living abroad for the past year and I am still young so I havent applied for any. I am moving soon, and want to lease or buy a cheap used car with monthly payments......is it going to be more expensive because I dont have any credit history, or are there dealers that I can find who lease or sell used cars with no history?

Public Comments

1. yes, if you go to a buy here pay here or get someone with a credit history to co-sign.
2. You could use "Yes Car Credit" as in "www.yescarcredit.co.uk" Good luck
3. You are going to be able to purchase but you will in effect be paying more for the vehicle because your interest rate will be higher then someone that has good or great credit. Try getting a cosigner that will your best bet to get a lower rate.
4. Try Carfax.com and also check with your auto insurance agent and ask them to run a free report for you on the VIN Vehicle Identification Number a 17 digit number that tracks cars. There are a few things you should know before signing on the dotted line. You typically will be paying a much higher rate with bad credit and if you still have credit history as you've only been abroad for 1 year you may find your ok. Credit history is much more than just credit cards. Mortgage payments, rent receipts are a few examples. You might want to consider a private sale but only if you know the person and still run a CARFAX report or ask then to. There are many "curbstoners" that buy bad title cars very cheaply and stick them in their front yards for sale one at a time. They are looking to make a quick hit on an unsuspecting buyer and this is an illegal practice in most states. If you buy from a licensed dealer at least you have some recourse with the state and county you live in. Try Carfax.com click on find a car at the top you can see dealers in your area and search for the cars you want while seeing the vehicle history report free. You don't have to have an account to do this anyone can find a car on Carfax.com. Check the BBB for any outstanding unresolved consumer issues. Make sure you check your credit score before venturing out. The more prepared you are the better. No one is looking out for you except you. Carfax veiled history though will be you best educated defense when buying used cars. #1 Sign up for Carfax.com get your account active and get the VIN number on top right corner of dash before you talk to the salesperson you can go on the lot after hours. Run the report and have it with you ( but don't tell them you have or show it on the dealers lot-your secret). #2 Don't trust what is told to you demand nicely to see it writing. If it isn't in writing it doesn’t' exist. Have someone knowledgeable about financing with you. #3 Ask the salesperson about the car, how many owners what states it's been in and does it have clean title, any accidents. #4 Ask to see a current day Carfax report on the car on you are interested in buying. You will know the dealer is a Carfax certified dealer if the report they show has no other dealer’s cars on it. The report and information is still valid but the dealer does not have a business account with Carfax so he cannot transfer the buyback guarantee to you. You’re best bet is dealing with a Carfax Certified dealer from Carfax.com. If the dealer says run your own well maybe you should…run away that is.(well you already have run your own hopefully). A dealer saying “run your own” means they’re either too cheap so beware of promises, don't want to know the history as they feel something’s wrong and if they did know something wrong they'd have to tell you by law. Never ever sign anything until all of your answers are legit and you are comfortable. There a good dealers and bad ones like anything else in life. Many dealers will tell you anything to get that car off their lot. The more you know about the car the better your negotiating position. Check your Carfax report for discrepancies in the dealer’s stories. #5 Deals to good to be true usually are. #6 Ask them to let you drive the car home and have your mechanic check it out for you. There are many flood cars out there in every state. Good luck and be prepared, always be prepared it's your life and your money.