Second Chance Financing: Is it Possible to Buy a Used Vehicle Without a Credit History?

Acquiring a used vehicle without any credit history is entirely feasible. At Clic Credit, we have helped thousands of clients purchase their first vehicle, even without a credit history, and we can assist you as well.

Clients Without Credit History

People without credit are often students or young buyers looking for their first vehicle. Financial institutions are willing to lend to these buyers, alleviating much of the concern. As with any major purchase, it's crucial to start by establishing a detailed budget.

Establishing a Budget

Your budget should include not only the monthly cost of the vehicle but also expenses such as fuel, insurance, repairs, maintenance, tires, registration, and your driver's license. As a new owner, it's easy to underestimate these costs. Generally, you should allocate about 50% of your monthly payment for additional costs to cover unforeseen expenses and ownership costs.

Planning and Vehicle Selection

With a clear budget, it will be easier to find the vehicle that meets your needs. Inform our sales representatives of your budget and the type of vehicle you are looking for, and we will be able to find it in our extensive inventory.

Income Evaluation and Financing

Once your budget is established, we will review your income to find the financing plan that suits you best. The bank may require a cosigner for your loan, which is common for new buyers. Apart from that, the process of purchasing a vehicle without a credit history is similar to any other vehicle purchase.

Buying a used vehicle without credit is not an insurmountable obstacle. With careful financial planning and the assistance of Clic Credit, you can navigate this process with confidence. Contact us today to learn more about your options and to start your journey toward purchasing your first vehicle.