First Time Buyer – No Credit Car Loans
Financing a vehicle for a first time car buyer is a major step in establishing credit, but how are you supposed to buy a car if you have no credit and dealerships say you need to have established credit?
At Five Star Ford, the answer is easy with our First Time Car Buyer Program in the Dallas Fort Worth area. No credit car loans are designed for car buyers who are ready to embark on the purchase of their first automobile. We have multiple banks that will accept First Time Car Buyers and help you get your credit started today!
- Must be at least 18 years old and be able to repay the car loan
- Must be employed for a minimum of one year or have a qualified co-signer
- Have no more than 12 months of auto loan payment history reflected on credit report and no derogatory credit may be present
- Minimum gross monthly income (what you make before taxes) requirement is $1,500
- Monthly payment not to exceed 20% of gross income, including insurance premium
- Proof of auto insurance required
- Maximum car loan amount is $15,000
- Must provide a minimum of 5% cash down (having a qualified co-signer may reduce or eliminate the need for a cash down payment)
Simply complete the application below and one of our credit specialists will contact you as soon as possible.