Hey,
I just turned 18 and I was wondering how hard it is to get a car through Honda financing. Would they give me a loan at my age since I have no credit? How leanent are they? I have no one who can help by co signing so I'm all on my own. Hopefully I'll be a new Fit owner soon. This thread seems like a great source of information.

 

With no credit score at all I would say it's impossible. I work for Honda and we had some people with bad credit who got no loan, so I don't think you could get one with NO credit score. But you can always try, my dealership works together with over 20 lenders, I think ther dealership do the same and maybe one of them lenders will help you out.

 

Maybe I'm better off just getting one from a Dealership.

 

Honda Finance is VERY strict. The only way to get a car from them with no credit is to either be a college grad with a AA or BA, or have at least 50% down payment. That is if there is no cosigner.

 

May be you can consider to get a 2nd hand Fit from Private party, if you have money on hand. Otherwise you may try some bank.........but don't put so much hope on it since you have no credit!!!! Sorry

 

if you want some hope i have terrible credit! for example ..
i had a walmart credit card (hold for laughs), they gave me a line of 75 dollars.. (hold for more laughs).. a few months ago- they LOWERED it to 50 (holidng for more laughs).... i put 200 down and got my fit through honda financing..

(no co signer)

 

if oyu are serious give it a try you never know, but dont try unless you are deff gonna do it if you get approved

 

It will be tough. I recommend to get your parents to co-sign, thats the easiest way to get the car i think.

Tyler

 

Definately go for a co-signer. If you don't have one, even if you DO get approved, your intrest rate will be sky high. I know this may not be what you want to hear, but you also might consider waiting a short amount of time while you build your credit. Get a credit card or two, the pre-approved ones you probably started getting when you were 18 work, use them to make regular small purchases, and then pay them off immediately. Only a few months activity like that will raise your credit score rapidly.

 

Hey

I'm 20. Have no credit on my name. I went in with 3k for a down payment and they financed me, so i wouldn't say it's impossible. Just go in with a attitude that you want the car. Check your credit by yourself with the dealer.