first car loan, car loan, loans, first credit, creditThe credit system is based on data collected about a person’s credit history but for those who have never had credit before there will be no such history, making them a credit risk. This means that these lenders will be less likely approve loans for consumers in the “at risk” category.

Fortunately, there are a few simple ways to go about getting new credit, even for those who are just starting out:


The first thing that everyone who is new to credit should do is to double check their credit score before applying anywhere.  New consumers should check their scores first to make sure they haven’t been an identity theft victim before looking for new credit.  Even children’s social security records and credit scores may be tainted by identity theft issues. Children’s social security numbers are stolen and because children don’t need to check their credit scores they don’t discover the problem until it’s too late. The government’s free resource for looking at your credit score can be found at


New consumers should get their first line of credit.  Car loans are a good place to start.  Cars are necessities for most people in our day and age, so customers who seek car loans for their first credit line won’t have to feel like they’re buying credit for credit’s sake.   Liberty Buick GMC does a great job working with first-time buyers.


Pay bills on time!  Paying bills when they are due and regularly monitoring your credit score is a great way to build a lifetime of good credit.  Lenders who are not willing to take risks on first time credit shoppers are definitely not about to take risks on people who earn a negative credit history.  It can take seven years for a negative mark to be removed from a person’s credit score.

After you have established good credit it’s important to monitor your credit reports so that identity theft can be caught early.  While people who have never checked their credit accounts can be popular targets for identity theft, that doesn’t mean the rest of us are safe.  If an identity theft issue occurs, the quicker it is noticed the more likely it is to be resolved.

For free advice on car loans, please contact the financial department at Liberty Buick GMC.  We will be happy to help with a first-time buyer get started on the right track!  704-708-8000