Consumers, who have no credit or down payment, have options for car loans. First option is through their bank. That loan requires that you have an acceptable balance, no overdrafts,  and a stable residence and job. Car must be priced at or near loan value. Second option, though not the best, is at a buy here, pay here lot. There is no credit check and little or no down payment, depending on the car. Down payment can also be avoided if there is a trade-in that is paid off. Third option is online loan companies. These companies work only with consumers that have bad credit. It is considered the easiest way to get approved. These loans have lower monthly payments and better interest rates.