When you saw your neighbor swing in the brand new Mercedes in the garage, you felt something sting you. Maybe something did not make you feel good about this. You felt the need to prove yourself and buy a car. But you don't have enough finances and also you are suffering from poor credit because of the financial mistakes you made in the past. But you feel that this should not stop you from buying a car. Well the answer is yes this should never stop you from buying a car and will not too. With the market struggling with people suffering from bad credit, the lenders have offered the No Credit Check Auto Loans where your credit will not be checked and you will get a loan.
You would need to pledge some collateral to get this loan. The collateral is basically to reduce the risk factor involved in giving loans to people with poor or bad credit. Mostly you provide the car you are buying as collateral. But you can also give the house or some other asset as collateral if you don't wish to pledge your car.
No credit check auto loans are given at a higher rate of interest in the market but there being a tough competition you can negotiate the interest rates. The deciding factor for your interest rate and loan amount is the down payment you will make for the car loan. Always make a slightly higher amount of down payment so that you can get the loan at a lower interest rate.
You need to have a regular income with a bank account in your name and should be above 18 to be eligible for no credit check auto loans. You can very well fill out the online application form available at the lender's website to apply for this loan.
Carney Alden is a Masters in Accounting and Financial Management from Lancaster University Management School. Having completed his Master in Finance from Derby University. He provide useful advice through his articles that have been found very useful. To find Auto Financing , Auto refinancing, New auto financing visit http://www.consumerautofinancing.com