Overhaulin'

How do I get a new car loan with no established credit history?

What are lenders looking for in terms of employment length, and collateral?

Public Comments

1. you don't try bank of Mom and Dad
2. They're looking for credit history. With none, you probably can't get a loan. You will most likely need a co-signer. If you can manage without any history at all...good luck...you will most likely need two years at the same job and at least $500 or a grand down, depending on the purchase price.
3. Your going to need a co signer depending on what you want, I would say go to a Credit Union Local or if you have parents or family in the military Navy Federal is good. Let them know you are a blank sheet ie no credit file at all. They will get you a loan to start off for like $300.00 and then you can use the money to pay it back that will start you off. Then get credit cards and things like that too thicken you file after 90days. But to anwser your question you are going to need a Co signer for a good car. So I suggested in my answer some easy things to help you get established. Also you might want to check on www.creditboards.com they are a good source of information.
4. You can get a car loan with only proof of address. Helps to have W2's and paycheck stubs. Not for a new car loan though. You can get a co-signer. You can establish a credit history with loans and credit cards.
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