Do you have a good job with a steady income? Are you looking for a reliable used truck you can purchase with a truck loan? Have you not yet had the opportunity to establish any credit, leaving yourself with no credit history? If you answered yes to these questions, then it still may be possible to purchase a used truck. Joe’s Auto Sales sells quality used trucks to individuals who have no credit or poor credit. By applying these best practices, you may be able to increase your chances of buying a used truck. 

Can I Buy a Used Truck With No Credit History?

Make a Down Payment

Placing a down payment on a used truck will reduce the amount you need to finance in order to secure a truck loan. A dealership may be more willing to lend money to someone with no credit history if the loan is not for a large amount. Are you currently short on cash? There are many creative ways to save for that down payment. Sell items you no longer use or need, work a second job temporarily, or cut down on your budget such as eating out or going to the movies.

Get a Cosigner

Another way to secure a truck loan without a credit history is to have a cosigner. This person, typically a parent or close relative, signs the truck loan with you, making him or her responsible for the monthly payment if you can no longer make the payments yourself. This can place the other person’s credit at risk if you do not pay your loan. If you have shown yourself to be responsible with finances, you may have a good chance of finding someone to cosign the loan alongside you.

Apply for a Buy-Here-Pay-Here Loan

A buy-here-pay-here loan is a truck loan that is purchased through the same dealership where you are buying your truck. Dealerships that offer these types of loans serve customers with either no credit or poor credit. They also offer flexible payment plans that make it easy for you to pay your monthly loan payment. 

Family-Owned & Operated

If you’d like to buy a used truck, come see the helpful team at Joe’s Auto Sales. Contact us today at our South Indianapolis location by calling (317) 756-9180. We also offer an extensive selection of used cars, used vans, used SUVs, and used motorcycles.

Source: “Getting A Car With No Credit History.” Blog article. Shabana Motors LLC. 13 Dec. 2017. Web. 19 Apr. 2022.