Do you have to have a good credit rating, or any credit at all, to buy a car?

I want to buy a new car soon, and I want to know if need to have any credit to buy one.


Since I dont have any credit, would it be harder to buy a car?


If so, what can I do to make it where I can buy a car?

Do you have to have a good credit rating, or any credit at all, to buy a car?
good credit defintley makes the process easier and faster on you and the dealership. how ever many offers financing to poor and no credit. If you have poor credit it may be wise to consider leasing the new car. if you have no credit established then a co sighner may be recomeded. good credit score has alot to do with a good deal and low intrest rates depedign the credit score depends the intrest rate you may get. but so mnay different dealerships expecially KIA , Hyundai , etc.. or some examples of the ones i see advertising alot of poor dredit financing . I never have had that problem except on my very first truck which i went thru my local bank which my parents also used and i had just started establishing credit through them . but they financed my vehicle and my dad signed as co signer for the first 12 mnths and onced i had made the forst 12 payments on time etc.. they aggreed to take his name off of the loan how ever after 18 mnths i traded in and financed it thru the dealerships banks got much cheaper intrest and no co sighner from then on . but where do you do your banking at try talking to your bank see where you stand and take advice. from them. if you just have poor credit then u will just have to bite the bullet and accept highj intrest and or lease onced the lease is up you may have it build up to a strong enuff point to buy.


Good luck..
Reply:buying a car with out a "good credit rating" can be difficult. Often the dealer will require someone to cosign on the car with you. All this means, is that they will make someone with good crdit sign on to pay for the car if you are unable to do so. Usually a relative will sign on with you, or a family friend. If your credit rating is low, be prepared to hava high interest rate. Good luck, buying a car is a important event in ones life and good luck, stay strong dont crackunder pressure,
Reply:No, but you might need to give a higher down payment and probably a higher month paymetn, I recently bought a car and they said that your credit doesnt have to do anything about what your monthly payment is but I really dont know if they know, first they said 1,000 a month and we said we could only do 400 so they went spoke to the manager and they said yes
Reply:I would suggest getting a credit card, like capital one, to help build credit. Just make sure there aren't fees. Keep it paid off every month and you won't be charged and it will build credit fairly quickly.
Reply:"im thinking of a number between 450 and 850 do you know what it is"





"its my credit score and it happens to be 720"
Reply:You can buy with Any credit, But they'll nail you to the wall with the interest rates!
Reply:No, if you walk in with cash in hand, you don't need any credit rating at all. But if you plan to finance a vehicle, yes, you need a credit rating or a co-signer.
Reply:Having a good credit rating, helps a consumer get a loan or credit at better rates and for larger amounts.To know "How to


improve credit rating, credit score" plz follow link-





http://www.acreditlibrary.com/improvecre...
Reply:If you have no credit established, a cosigner would be required for a new car purchase. I suggest joining a credit union, and applying for a car loan through them at the same time. Interest rates are far less, and when you go car shopping, you will have a pre-approved amount, that you can spend. This way, in the excitement of the buy, you don't sign a high interest contract, and you know what you can buy, before shopping. The buy here, pay here lots, are going to be extremely high interest , 30% isn't uncommon.
Reply:Good credit only gets you a lower interest rate. Be prepared for a higher car payment!
Reply:If you're worried about money, the best bet is to do some homework, spend some time and get a good USED car.





The registration every single year is cheaper; your insurance is cheaper; no payments to worry about..... (and you won't worry about the dang car so much, either, nice car; don't get involved....good wheels; new car and every scratch hurts!)





Used cars:


1. Try to get a one-time-owner car.


2. Try to buy through friends or friends of friends.


3. Look at signs around your neighborhood, parked cars, moving cars---


4. Craigslist in your neighborhood or throwaway papers, free press, et cetera. (If they live near you, they'll be more cautious about what they're passing off, and you know your neighborhood, you'll know if this is even a good idea.)


5. Check Consumer Reports for the safety of that model for that year, the gas mileage, and the re-sale value. Often you can get a nice used car and turn right around and sell it for more, while you're building your credit, or making money to get a new one, if you really want that.


6 Kelly's Blue Book will tell you the base-line value of the car,


and be aware which cars seem to last and which don't, which do many miles (like Toyotas), which are good for re-selling (like Toyotas, Hondas....)


7. Be sure to get it checked out by your mechanic.


8. Ask to drive it for a few hours.


(Be sure your mechanic checks the frame. That has to be PERFECT.)





(One of the best cars I ever bought was a Toyota, which I drove for three years and sold for 3k more than I paid for it, not bad, and it cost me nothing for the three years, cheap fees, reasonable insurance, inexpensive maintenance. Paid for itself, plus.)





Good luck.