Can I Buy a Mitsubishi Car with No Credit?

September 16th, 2021 by

When you’re ready to buy a Mitsubishi car, trust our team here at O’Brien Mitsubishi of Normal to steer you in the right direction. We’re here to support drivers at every stage of the car ownership process, from the first test drive to long-term Mitsubishi service and care.

Financing a new vehicle doesn’t have to be scary, and we’re here to answer all your questions about credit, financing, and new Mitsubishi cars.   

Financing a Vehicle with No Credit 

Credit plays an important role in the car purchasing and leasing process. It’s important to note that you will not be able to lease a vehicle without a credit history, as most leases require a very high credit score for eligibility.   

Essentially, credit indicates to potential lenders how risky you are to lend money to, which directly correlates with your interest rates and how quickly they want to see the loan paid back. The higher your credit score is, the more favorable your credit term options will be.   

There are tons of ways to finance a vehicle even if you don’t have a credit score, but you will likely have a higher rate of interest and a shorter term length. If you’re looking to save money or access more favorable lending terms, it can be helpful to take a little time and try to raise your credit score by paying down debts. 

Why Finance at O’Brien Mitsubishi of Normal?  

Here at O’Brien Mitsubishi of Normal, we carry a wide inventory of new and pre-owned Mitsubishi vehicles, including models under $15,000. We also offer financing tools and resources like our easy online payment application, vehicle trade-in value estimator, and payment calculator. 

Learn more about financing and start test-driving one of our Mitsubishi vehicles here at O’Brien Mitsubishi of Normal. We look forward to seeing you soon!

Posted in Finance