If you have no credit history at all, it's a good time to sit back and really think about a good strategy for building a solid credit history. Don't jump at the chance to get credit cards as they can be the fastest way to get overloaded with debt. Most everyone has had a bad experience with them and they should be treated like a loaded gun.
Financing a car with no credit is simple and your approval is based on your income. There are some special finance companies that cater to helping people with their first opportunity for a car loan. There are reputable companies online that can help you do that, it's just a little difficult locating them sometimes with all of the spam and gimmick websites that abound on the internet. There are some really great opportunites though.
You should consider if you are wanting to put any money down. While you may not have to have a down payment, reducing the amount financed with cash down can be a wise idea if you can afford it. It reduces the amount of finance charges that are paid over the course of the loan and also reduces your monthly payments. On a five year loan, you can generally expect that a thousand dollars down will reduce your monthly car payment by about $20.00. Of course, if you have a considerable amount to put down, your payments can be very, very low. Make sure that you make an educated decision and don't rush into anything that you can't afford.
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