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Auto Loans

Buying a car is often the first big purchase many people make. If, like many people, you can’t pay cash for such a purchase, you may be planning to get a car loan and wondering what you’ll qualify for.

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What Factors Will Lenders Consider Most Important on Your Credit Report?

  • How much you already owe.
  • How much unused credit you have available.
  • How prompt you are in paying your debts.
  • Whether you have recently applied for new credit.

What if You Have no Previous Credit?

Lenders may ask you to show that you pay your rent, telephone bills or utility payments on time.