Auto loan without credit or employment verification?

HSBC has a loan program that doesn't require credit or employment verification. But they require 30-40% downpayment. Anyone try this and can share their experience?

Auto loan without credit or employment verification?
If you are required to put up 40% of the car in cash up front the risk to the finance company is very low. If you default on the loan, half the value of the car is already paid for up front so they get the car in the repo and it's already half paid for. They sell it and make a big profit since they aren't out any money at all.





Smart for them, but how many people can come up with 40% of the price in cash. If you could do that , why not just save a little longer and come up with 100% of the price in cash and tell the finance company to go fly a kite.
Reply:HSBC is an established lender. That's a pretty hefty down payment, though.
Reply:If you think you need to have a new or used car to support your life activity, auto loan is the kind of loan which will guarantee a loan regardless of your credit rating%26lt;!--With this credit rating waive, guaranteed approval auto loan will have a higher interest which you need to consider thoroughly before you jumping into it.





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There are a lot of companies which can guarantee you auto loans, so you must find the best offer that is suitable with your monthly income. Look for the best deal and offer that you can get. You can visit--%26gt;any banks and car dealers around your area, but for a guaranteed approval auto loan usually available via websites.
Reply:fsda
Reply:I have never heard of it, but it sounds like a decent program to get people started with their credit. You will probably have to pay an obscene interest rate though.
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