‘Tis the season to be spooky, but having no credit can be downright scary. These “credit ghosts” haunt the world searching for lenders to no avail, because these borrowers don’t have any credit history to indicate how they might handle a loan.

Stuck in the Void

When you don’t have anything show up on your credit report, it could leave you stuck in a lot of ways. Some people think that using cash keeps them out of debt and doesn’t impact their credit. In reality, this practice could be keeping you from getting the most out of life. Others are unsuspecting ghosts, who don’t have credit due to age or circumstance – such as a stay at home parent or new citizen.

The Land of the Living

A lack of credit history could leave you pining for many of the comforts of life such as:

  • Getting an auto loan
  • Renting an apartment
  • Getting a mortgage to buy a house
  • Getting a credit card

All of these things require some type of credit history, so that potential lenders can gauge how well you handle yourself in financial situations. Having credit, and paying your bills on time and in full, goes a long way toward how positively lenders will respond to you in the future.

Moving Toward the Light

credit ghostIt's possible to join the living and begin to build good credit. One of the simplest ways to start is to pay all of your current bills on time. From there, a secured credit card can be a great step in building credit. This type of card requires a cash deposit, which becomes your credit limit. Using a secured card for purchases and making timely payments should make it possible to eventually graduate to a traditional credit card.

An auto loan is another great way to build credit. Someone starting out with no credit may have to start at a buy here pay here dealer. Known as in-house financiers, they don’t rely on third-party lenders, so they often don’t check your credit. However, it's very important to make sure your dealer is reporting your payments to a credit bureau, or you’re still going to remain a ghost.

A special finance dealer is also a good option. These dealers have lending resources that can often help people with bad credit or no credit get the financing they need. Making regular payments on one of these loans is sure to give your credit the life it needs to begin thriving.

Guiding the Way

If you’re ready to take the path back from the dead, and begin breathing life into your credit history with an auto loan, we want to help! At Auto Credit Express, we know how to navigate the sometimes terrifying world of bad credit car loans and connect you with a local dealer you can trust.

We work with an extensive network of special finance dealers whose lenders are willing to revive credit ghosts and people with ghoulishly bad credit. Take the horror out of your next car buying experience by filling out our simple online auto loan request form.