No Credit Check Auto Loans

Posted by admin under Auto Loan

When to Pass and When to go Ahead and do the Dirty Deed!

This can be a real pickle to get into, having to have a “no credit check”  auto loan usually means, its bad so don’t ask.  In many cases you are better off just taking a pass and saving up for a better deal, or even just putting some time into your credit score, because auto loans with no credit check are a double edges sword in many ways, and you don’t want to end up falling on that sword down the road.

Reasons to Say Yes to No Credit Check Auto Loans

You may have gathered so far that I am not a huge fan of the no credit check auto loan, you would be right.  Reasons you must have one in my opinion are strictly limited to what tight wads like me call needs.  Getting to work is a must for example, and only if you live ten miles away or more.  If you live five miles from work, ride a bike and suffer the rain, or if possible take the bus.  Make your kids do the same, if you absolutely must have a car it is to get to work.  That said, I don’t necessarily advocate going out and getting a pile of rubbish beater car unless you are proficient at fixing them.  If you can be reasonably sure it will get you from point A to point B, by all means purchase the pile.  If you can’t get a bus for your kids school wise (say in extremely rural areas) then a car is a must.  If you have recently been divorced and your credit is a mess, and your ex has left you without a much needed car then this also can be a good reason to bite that bullet.  Go ahead and pull the trigger in situations like these mentioned above.

Reasons to Say No Way to a No Credit Check Auto Loan

To all you irresponsible Beverly Hills princesses out there, you do not need that car.  Period.  Unless you must have it for one of the reasons I mentioned above (like you won’t eat without one) I say pass, put some of that money into fixing the mess you are in and buy a little later.  There is no such thing as a great deal on a car, especially on car lots advertising a no credit check auto loan, and if you can’t get to town to have your nail polish changed, well honey that is not an emergency, you will not starve to death and your kids will not be on the street over it.  Get some of your past sins under wraps, and don’t even think about it if that rate is over eight percent.  It will end up murdering you in the end and making it impossible for you to climb out of the hole you are digging yourself into. Get a handle on your finances and try again next year.