Consumer Car Buying Advice Blog

What can you reasonably expect if you request a no credit car loan quote online? In order to answer this question, you first need to know that it really depends on what type of web site you apply with. Since there are basically four different kinds of sites competing for your business, let’s take a look at the different sites.

No Credit Car Buying Service Sites

No credit car buying services, such as Auto Credit Express, have an established nationwide network of dealers that finance people with little or no credit history. The best buying services also have a proactive customer service department and affiliate partners. Auto Credit Express has all this and, in addition, we also have relationships with direct marketers and direct lenders.

Once our customers submit their no credit car loan application through the Auto Credit Express car buying service, they can expect to work with a single dealer in their area that is uniquely qualified to help them buy a car. Our affiliate dealers cannot help everyone, but they can help most people, that have reasonable expectations and are willing to put forth the effort, establish a credit history while financing a car.

No Credit Car Loan Direct Marketers

Direct marketers often hide their true identity and make false claims when promoting their service, for example, if you Google ® “Buy a Car with No Credit”, you will see ads for websites that claim:

• 97% Approved
• 100% Accepted
• No Credit Check

Unless the advertisement is run by a “Buy Here Pay Here” dealer with “Tote the Note” financing, the “No Credit Check” claim is not only false, it is an outright lie. If you have to supply your social security number as part of the application process, chances are very good that a credit report will be run to determine your suitability for auto financing.

The direct marketer’s focus is really to collect your personal information and then to resell it to the highest bidders – which include car buying services such as Auto Credit Express as well as car dealers and direct lenders.

Consumers that request a quote from a direct marketing website are often left with the feeling that these sites over promise and under deliver. Here at Auto Credit Express, we have talked to many people that have applied on these sites (remember, we have a dedicated customer service department). Most of these people were unaware that they could not use these services to buy their neighbor’s car or shop at any car lot like a cash buyer could.

In other words, these sites do a poor job at setting expectations and lead consumers to believe that anything that customer wants he or she can get, regardless of their income, monthly budget, down payment, and credit score.

No Credit Car Loan Direct Lenders

Direct lenders do a poor job of giving online approvals to people with no credit. Most of their “No Credit” programs are tailored for people with marginal credit. By marginal credit, this means a FICO score in the 600 range. On the other hand, if you are approved with one of these direct lenders, you can shop at just about any licensed dealer, just as a cash buyer would.

If you apply for a no credit auto loan at one of these direct lenders and they turn down your request for financing, they will often offer you the services of a reputable no credit car buying service, such as Auto Credit Express.

No Credit Car Loan Indirect Lenders

Indirect lending is the type of lending that’s done at auto dealerships (unless they’re a “Buy Here Pay Here” or “Tote the Note” dealer). There is an advantage to this process: if you apply directly with an auto dealer, you know who has your information. The downside to this process is that the dealer that you applied with may not have the people, process, inventory, and lenders in place to approve your specific credit situation. If the dealership is unable to help you buy a car with bad credit, you will have to start the process all over again.

How Auto Credit Express can help you

For years, Auto Credit Express has been helping people with credit problems purchase new and dependable low-mileage used cars. When you visit our web site, you will see that we take time to explain the financing process. Our FAQ page covers the basics, while our calculators will help you determine a realistic budget. If you still have questions, our customer service representatives, who are knowledgeable in special finance, are available during business hours. Simply call the toll free number listed at the bottom of any of our web pages.

Once you’ve made a decision to apply for a no credit car loan, our secure online no credit car loan application allows you to submit your application in the comfort and security of your own home. Once you’ve applied, you’ll be contacted by a finance professional from a dealership that belongs to our network of affiliated dealers. Once you are approved, your timely monthly car payments will help rebuild your credit score and reestablish your financial future.

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