Can You Buy a Car With No Credit Score?
Can You Buy a Car With No Credit Score?
Posted on April 21, 2023
Anything is possible when you put your mind to it, You can of course buy a car with no credit score if you look around and find the best options. Whether you’re new to Canada and want to buy a car, are in college and want your first car or something else, there are always ways to get what you want! Let's dive in.
Buy a Car With Cash
The most obvious way to get a car without needing credit is to pay cash. It may take some saving and may mean you don’t get the expensive car you were hoping for but it’s definitely a viable path to car ownership.
Buy new, buy used, buy at auction or buy from a dealership. If you’re paying cash, you can buy your car from anywhere.
Have a Large Down Payment
If you want something more expensive, you can use cash as a down payment and use a program to buy a car with no credit score. If you’re new to Canada, there are programs to help. If you’re a student, there are programs to help.
If you’re building your credit, you also have programs that can help. There are also auto loans around that take a lot more than credit into account, which can also help.
You Should Really Build the Credit
The long term goal should always be to improve your credit. Our credit scores control many aspects of our lives, from where we can live to the insurers that will insure us.

Source: Finance Twins
It takes time and will mean delaying your car purchase unless you have cash but the benefits will reach far beyond a car. A good credit score opens up a lot of financial doors.
Use a credit card or get a secured credit card and use it for daily expenses. As long as you pay off the balance in full each month, you’ll avoid the majority of the interest charges.
Get a Co-Signer
A co-signer comes in on the loan with you. They won’t own the car but they will guarantee the loan. If you pay it off, they need do nothing. If you default or miss a payment, the lender will expect the co-signer to finish paying the loan.
If you know someone willing to be a co-signer on an auto loan, it’s a way to access finance when your credit is low.
No Credit Car Loans
If you have no credit and need a car right away, you have options. You can use any of the methods explained above or you can use a specific bad credit car loan. These are specialist products designed for those with less than perfect credit.
We are bad credit car loan specialists and have access to a range of lenders willing to work with people in all kinds of situations. We can help you too.
If you're ready for a car loan, we'd love to help with that! simply fill in the form below to get started.