Did you know that you can actually buy a car with no credit?

We get a lot of questions about buying a car in Canada with no credit. There are actually a few options to consider:

1. Save up for a down payment: One way to increase your chances of being approved for a car loan is to have a larger down payment. If you can save up enough money for a significant down payment, it may be easier to secure financing from a lender. At House of Cars, we have over 20 different lenders, meaning we can offer you more financing options if you have no credit.
2. Get a co-signer: Another option is to ask a friend or family member with good credit to co-sign for a car loan. This can help you get approved for financing, but it's important to remember that the co-signer will also be responsible for the loan if you default.
3. Look for a dealership that deals with no-credit car loans: Some car dealerships, like House of Cars, offer financing options for people with no credit. However, other dealerships may give you higher interest rates and less favorable terms than traditional car loans, so it's important to carefully review the terms before agreeing to any financing. House of Cars offers plenty of solutions for individuals with no credit, with flexible repayment options. e also offer credit rebuilding programs to help you get better credit and more financing options.
4. Consider alternative financing options: Other options to consider include leasing a car or looking into financing through a credit union or online lender. These options may be more flexible and offer lower interest rates than traditional car loans. House of Cars has more financing options than any other Alberta dealership, meaning we can get you approved, no matter what!

It's worth noting that regardless of which option you choose, it's important to do your research and shop around to find the best financing option for your needs.

Are you a student looking for a cheap car? House of Cars has over 1,000 vehicles in our inventory, so there’s plenty to choose from. For students, we recommend looking for a vehicle that’s economical on gas, has low insurance premiums and is reliable. We’ve got plenty of those!

If you have a budget of $20,000 or even $10,000, there's lots for you to choose from! With plenty of financing options for students, including some special offers specifically for students. We can ensure your monthly payments are low and that your vehicle suits your needs perfectly.

Looking at a compact car, hatchback or small SUV are good options for students, since they have plenty of room to carry your supplies, are often cheaper on gas and have fairly low operating costs.

These are the following things you should look for when you're in the market for a student-friendly car:

• Sticker Price
• Financing Options
• Features & Optional Add-ons
• Insurance Costs
• Efficiency Ratings
• Safety Ratings

Talk to a sales representative at House of Cars and we’ll sit down and go over your needs and get you in the perfect vehicle for a price that’s student-friendly! With over 20 different lenders, we can offer student-friendly financing options with flexible payment options and a customized credit-building plan to help you best manage your money and ensure you're building strong credit while you're in school. Having good credit will become increasingly important when you want to buy a house, or your next car, so let's start building your credit now!

Here's our top picks for best cars for students:

Toyota Corolla

Unsurprisingly, because the Toyota Corolla is well-known for being a safe, reliable, and efficient car, it’s a great choice for college students. Additionally, Toyota lives up to its reputation of being a reliable automaker.
With that great fuel efficiency, alongside its relatively affordable price tag, Corolla owners can save a lot of money in the long run. This can be a very important consideration for college students who are just learning about how to handle their finances.
Shop Toyota Corolla

Mazda3

The Mazda3 is a more practical choice for a college student. It is small enough to fit in tight parking spots on a crowded campus, and it is also fuel-efficient and reliable. Inside, the cabin has room for up to five passengers, and it has lots of tech and convenience options, including the Mazda Connect infotainment system. This Mazda also has a manual transmission option for those who want to learn how to drive a stick shift.
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Honda CR-V

The CR-V is a small SUV that makes an excellent vehicle for a college student. It has space in the cabin not only for you and four friends but it also has room in the back for the gear you need to get to and from school. It also has the option for all-wheel drive if you have to travel in the snow or on slippery roads. The CR-V has an impressive list of safety features, including adaptive cruise control, lane-departure warning, and automatic high-beam headlights.
Shop Honda CR-V

Hyundai Elantra

The Hyundai Elantra is another excellent choice for students on a budget. These sedans have a reasonable price tag, and they come with an excellent warranty. The Elantra has a strong engine and plenty of power, so it is fun to drive, and it gets excellent gas mileage. Additionally, the Elantra comes loaded with tech, and it has a long list of standard and available safety features.
Shop Hyundai Elantra

Volkswagen Golf/Jetta

The Volkswagen Golf or Jetta are another excellent choice for college or university students. They comes packed with safety features, are fuel-efficient, and have a sleek, timeless design that you'll be proud to drive all through university. The Golf/Jetta also has the technology you want for hands-free driving and cranking up your favorite tunes. The only question is; do you want a sedan or hatchback?
Shop Volkswagen

There's a lot of common myths in the automotive industry that simply aren't true. When it comes to buying a car, we've all herd stories about how to get the best deals at a used car dealership. But are the myths true?

Myth: Paying With Cash Will Get You Discounts

We've all heard the phrase "Cash is King" before. But is it actually true? Believe it or not, paying for a vehicle with cash will not get you any discounts. The truth is that credit is power! By having a good credit score, you gain leverage on your vehicle purchase and open up so many more buying options you wouldn't be able to afford by just paying cash. There's often a lot more wiggle-room when it comes to getting a good deal when you're financing a vehicle.

Myth: Only Buy A Car With Low Mileage

We’ve been taught that higher milage cars should be avoided at all cost, but that simply isn't true. When buying a car, you'll want to make sure you have a look at the Carfax report to learn about the vehicle's history. A higher milage vehicle that has been well-cared for and regularly maintained will last you longer and give you way less of a headache than a low mileage vehicle with no available history. Finding out the history of a car is far more valuable than just relying on its odometer reading.

To learn the history of a used car in Alberta, all you need to do is ask your sales representative for the Carproof report, which is included with each vehicle for sale at House of Cars. If the car lot or private seller you’re working with doesn’t make a CARFAX report available to you, you should walk away from the deal. You may be in for a bug headache.

Myth: Never Finance A Car Through A Car Dealership

Some people believe that seeking their own financing from their bank or credit union will get them a better deal. But if you have good credit, financing at the dealer can often make better sense than a private bank or credit union. Even if you have bad credit, why would you seek out a single lending option for your vehicle purchase when House of Cars has access to over 30 lenders? We can shop around for you and find you the best interest rate and lowest payment, which is something you won't be able to find by financing through your bank!

Myth: Buying A Car From A Private Seller Is Cheaper & Less Complicated

Some people think that buying a car from a used car dealership will result in them being taken advantage of and getting a worse deal than buying privately. Though it's true that private sellers don't have as much paperwork to complete, and the process is usually quicker, you as the buyer are not protected at all. House of Cars is required to sell vehicles that comply with AMVIC's standards. If you buy a car from a private seller and it breaks down tomorrow, you have absolutely zero recourse. A private seller also has no obligation to show you the vehicle's history report and can often hide the vehicle's issues, which you'll only figure out once a few days after you've taken the car home. Any car purchased from House of Cars comes backed with a Carproof report and has undergone a rigorous mechanical inspection prior to being listed for sale. Purchasing from House of Cars also gives you access to aftermarket warranties, just in-case something happens, which a private seller cannot offer you.

Myth: Buying A Car At The End Of The Day, Or End Of The Month, Will Get You A Better Deal

The idea is that the sales staff will be desperate to get home, so they'll be more willing to meet you at a more favorable price. That's an entirely reasonable human assumption, but it's perfectly ordinary for a salesperson to work well past closing time to make a deal. Some people believe that if they buy a car at the end of the month, a salesperson might be willing to give them more of a deal because they are eager to meet their sales quota. This is simply not true. Purchasing a car in the final days of the month will not garner you a better deal. The best way to get a good deal on the vehicle is to build up your credit score. This gives you access to so many more financing options and lower interest rates. Plus you can get better deals at any time of the month!

Myth: The Lower Your Payment, The Cheaper It Is

If you're a bit tight on cash, it makes sense to keep an eye on what you can actually afford each month. A $200 per month payment for 7 years is not cheaper than a $250 per month payment for 5 years. You'll actually be paying more money on that "lower payment" because of interest. Worse still, because most loans are front-loaded on interest payments, it's easier to end up "upside down" (owing more on the car than it's worth) with longer-term loans. The bottom line: be sure you know how much that lower monthly payment is costing you in the long run.

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