3 Best Alternatives to No-Credit-Check Auto Loans in 2021

We all know how stressful applying for a loan can be. In addition to the uncertainty, credit inquiries also slightly lower one’s credit score. To top it all off, having bad credit lowers your chances of approval. This is why some people look for no credit check auto loans.

However, it is next to impossible to find a lender that will allow you to finance a car with no credit check whatsoever. Those who do, usually have exorbitant interest rates or fees. This is why we have reviewed lending platforms that perform a soft inquiry first, to present you with loan offers which will give you an idea where you stand.

A soft inquiry won’t affect your credit score, and you’ll be able to compare loan offers at your leisure before you proceed with the application process.

Here are the best alternatives to no credit check car loans.

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Top 3 Alternatives to No-Credit-Check Auto Loans for 2021

1. Car.Loan.com

This platform provides you with what is probably the shortest path from looking for a car (despite your credit score or credit history) to actually owning a car. Car.loans.com will perform a soft credit check and then connect the user with dealers offering suitable loans. The loan amount range is decent, the minimum credit score is not an issue, and it’s possible to apply with a co-signer. Full Review

  • APR: 0-25%
  • Minimum Credit Score: 300
  • Minimum income: Not disclosed

This platform provides you with what is probably the shortest path from looking for a car (despite your credit score or credit history) to actually owning a car. Car.loans.com will perform a soft credit check and then connect the user with dealers offering suitable loans. The loan amount range is decent, the minimum credit score is not an issue, and it’s possible to apply with a co-signer. Full Review

2. myAutoloan

This platform helps you resolve your greatest fear as a car loan borrower. People with poor credit usually feel like they don’t have much choice in the matter. Their fear is that they’ll be forced to leap on the opportunity (if they’re lucky to be presented with one, to begin with). With myAutoloan, you’ll get presented with 4 offers in a matter of minutes. Full Review

  • Minimum Credit Score: 575
  • Loan Length: 24–72 months
  • BBB accreditation: A+

This platform helps you resolve your greatest fear as a car loan borrower. People with poor credit usually feel like they don’t have much choice in the matter. Their fear is that they’ll be forced to leap on the opportunity (if they’re lucky to be presented with one, to begin with). With myAutoloan, you’ll get presented with 4 offers in a matter of minutes. Full Review

3. Auto Credit Express

The Auto Credit Express (ACE) works with buyers who have good, fair, terrible or no credit history whatsoever. Even borrowers who have undergone recent bankruptcy won’t be disqualified from these loans. The reason behind this is an amazing network of lenders, finance companies, and car dealerships, which ensures that there’s a suitable loan for everyone. Full Review

  • Minimum Credit Score: 300
  • Loan Length: 36–72 months
  • Minimum income: $1,500–$2,000 a month

The Auto Credit Express (ACE) works with buyers who have good, fair, terrible or no credit history whatsoever. Even borrowers who have undergone recent bankruptcy won’t be disqualified from these loans. The reason behind this is an amazing network of lenders, finance companies, and car dealerships, which ensures that there’s a suitable loan for everyone. Full Review

Best No-Credit-Check Car Loan Alternatives in 2021

Car.Loan.com Best for joint applications
myAutoloan Best for low rates
Auto Credit Express Best for bankruptcy auto loans

Detailed Reviews

Car.Loan.com
Car.Loan.com

BEST FOR

joint applications

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  • Minimum credit score: 300
  • Loan term length: Not disclosed
  • Funding time: Depends on lender
  • Minimum income requirement: Not disclosed
  • APR range: 0%–25%
  • BBB accreditation: No

Every hard credit inquiry can slightly lower your credit score, which is an issue worth considering regardless of your credit score. Fortunately, Car.Loan.com is a good alternative for bad credit borrowers. While it doesn’t offer no credit check car loans, the platform only performs a soft inquiry to present you with offers from lenders. If you accept, the dealer will perform a hard check and present you the final offer.

The quickest way to own a vehicle

The strongest selling point of this platform is the fact that it will take less than 3 minutes after your buyer’s profile is made to get your first loan offers.

No disqualification for bankruptcy or lack of credit history

Some people don’t want their credit checked because they hate the idea of hard credit inquiry lowering it even further. This is especially true in the pre-qualification stage where they risk lowering their score (with a hard check) and getting rejected at the same time.

This is why platforms that allow you to compare loan offers with a soft check are a better option and offer better terms than no credit check loans. Even when having no credit history (due to your age) or having suffered from a recent bankruptcy, you won’t be disqualified. The soft credit check is performed to match you with the best possible offer when taking into account your credit score, income, and other factors that affect loan terms.

Buy here – pay here

One of the best things about Car.Loans.com is its buy here pay here option. Dealers working with the platform sometimes don’t work with other third-party lenders. They offer auto loans for people with no credit and sell the car themselves.

All that they ask for is that you prove you have a regular income. Sure, the loan terms depend on the credit profile and you will get better terms for having a better credit score. Also, you get better terms for buying a new car than you would if you were to get a used vehicle.

Key takeaways

Regardless if you’re looking for low interest auto loans for good credit or guaranteed approval loans for bad/no credit, Car.Loans.com will get things done quickly.

myAutoloan
myAutoloan

BEST FOR

low rates

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  • Minimum credit score: 575
  • Loan term length: 24–72 months
  • Funding time: Immediately after approval
  • Minimum income requirement: $1,800 a month (gross)
  • APR range: Not disclosed
  • BBB accreditation: A+

myAutoloan is an efficient lending platform that even provides car loan offers with no hard credit checks. After a soft credit inquiry and filing in the form that will help you set up your customer’s profile, you will start getting real offers, and accepting them will require a hard check from the lender. Sure, the quality of these offers depends on your profile and your credit score is a big factor here, but the number of options means that you should be able to find something that suits your budget.

Great tools

Tools available on this lending platform are quite handy and completely free. For instance:

  • The interest rate chart will help you see where you stand (approximate estimate)
  • The interest rate estimator will make an evaluation of your APR in a matter of seconds (before you even apply).
  • The most useful one is the payment calculator, which tells you how much you’ll owe in repayments each month.

While it doesn’t offer no credit check car financing, this platform provides you with an end-to-end toolset that will ensure you get the best deal for your credit score and budget. This will help you make long-term plans, which is only fitting seeing as how a car purchase is a major investment.

No pressure

The strongest selling point of this platform is definitely the fact that there’s no downside to using it. Since it performs only a soft credit check, you don’t lower your credit score by applying.

Moreover, you get offers that you can accept or reject. All the offers are confidential, you get a response/decision in minutes, and you have no obligation to accept. myAutoloan provides you with the best no credit check auto loan offers, and you only have to undergo a hard pull if you accept any of them. There’s no pressure and you can move at your own pace, making this platform an excellent choice if you want to do thorough research.

Plenty of resources

The fact that you’re currently struggling with your credit score shouldn’t make you reckless or desperate. Take your time and make sure to weigh all your options. We’ve already mentioned the amazing tools that you have available but the list of resources that the platform has to offer is not to be underestimated either. Sources like:

  • Finance guides
  • Better credit guide
  • Auto loan glossary

Are just some of the materials that can help educate you on the subject matter. After reading up, you will learn how to recognize bad credit or no credit car loans that are worth your time and attention.

Key takeaways

When looking for a variety of offers while in a sub-optimal financial situation, it’s near-impossible to top myAutoloan. The speed of response on this platform is also a thing worth admiration.

Auto Credit Express
Auto Credit Express

BEST FOR

bankruptcy auto loans

Visit Website
  • Minimum credit score: 300
  • Loan term length: 36–72 months
  • Funding time: Not disclosed
  • Minimum income requirement: $1,500–$2,000 a month (gross)
  • APR range: Not disclosed
  • BBB accreditation: A+

Regardless if you’re looking for a new or used car, ACE has the biggest offer and the potential to connect you with dealers offering some of the best no credit check auto loans out there. The platform is simple and straightforward. ACE is optimized for users with no previous experience in these matters and designed to get them through the entire process in a matter of minutes.

Loan estimator

Even if you’re looking for a way to get a car with no credit check, in order to get an estimate of how good of an offer you’re presented with, you need to have a reference point. If you don’t have much experience in the industry (which is likely the case), your best bet is to use a tool like a car loan estimator. There are three factors that make difference here:

  • Your own credit history (obtained through soft credit pull).
  • Your monthly income (after the taxes).
  • Recurring monthly debt (mortgage, rent, credit card payments, etc.).

It’s even possible to apply for car loans without credit checks, as some dealerships go by the maxim “your job is your credit.” As long as you’re employed and have a place of residence, you’re very likely to be approved for a loan. Your borrower profile will still determine exact terms and a loan estimator can help you recognize a fair offer when you see it.

Great for buying a car and fixing credit score

Rebuilding your credit score after a bankruptcy is incredibly challenging. Ideally, you would get a loan that you can repay vigilantly, thus increasing your credibility with credit reporting companies and working your way up factor by factor.

The problem is that after a bankruptcy, it’s near-impossible to get a loan. Fortunately, ACE can put you in touch with no credit check dealers, and help you kill two birds with one stone. You get your car and a way to make the move in the right direction when it comes to fixing your credit score.

The biggest network of dealers

If you are looking for the best-connected auto loan platform on the market, chances are that you won’t get a place that tops ACE. The thing is that the platform itself works with more than 1,000 dealers all across the country. This means that the likelihood of finding the right no credit check auto dealership that you’re looking for is significantly higher.

Key takeaways

Those looking for good loans, a platform that has offers even for those with past financial delinquency, and great terms for those with better credit scores can find what they’re looking for on ACE. In terms of dealerships, the number of offers is ridiculously high.

Buyer’s Guide: How to Get a Car Loan with No Credit?

When getting an auto loan for your own situation, you need to put the lists of all your strengths and weaknesses (finance-wise) on paper. If you have no credit history, it might seem logical to look for no credit car loans. However, that’s not necessarily the case, as they often have very high fees and/or interest rates. So while there are some lenders who won’t insist on a credit check, it might be more cost-effective to look for a lender that allows a co-signer instead.

Also, make sure to pay close attention to the vehicle that you’re purchasing, as it can affect the loan terms you get from the lender. With auto loans, the APR is not determined just by your credit score and your income; the vehicle itself is also a significant factor. Some lenders may even outright refuse an application if the vehicle you intend to buy is above a certain age or mileage.

Finally, keep in mind that every installment loan is an additional monthly expense. So, make sure to do your own calculation and see whether your household budget can take it.

Wrap Up

In the end, these platforms merely connect the borrower with a suitable lender and, for this to work, they need to check the borrower’s profile. Nonetheless, this process is a good alternative for people with bad or no credit, as they can compare potential offers prior to applying.

FAQ

What is the best auto loan company for bad credit?

This varies depending on your requirements. For instance, myAutoloan can be called the best bad credit car loans platform due to its low rates. However, it doesn’t offer loans smaller than $8,000 and has restrictions on some vehicles. Auto Credit Express has a great offer for the military personnel, but that doesn’t mean much to those who aren’t in the military or haven’t served. Car.Loan.com has a good all-around offer but a relatively low maximum loan amount.

Can you finance a car without a credit check?

Yes. However, this usually comes with high interest or other unfavorable terms. Almost all lenders will perform a credit check in order to evaluate your risk as a borrower.

Can you get an auto loan without credit?

The short answer is yes. Some platforms specialize in offering special terms to people who have recently undergone bankruptcy or have a credit history that is too short for the majority of conventional lenders. While it’s almost impossible to avoid a credit check once you actually apply for a loan, picking companies that offer the best alternatives to no credit check auto loans will minimize your odds of getting rejected. Of course, unless you have a cosigner, it’s unlikely you’ll get good terms.