What is the procedure for car financing for a person with no credit history. Started new employment at UNC

If practices haven't changed over the years, you will probably need a CO-SIGNER -- someone with a good credit history/score who is willing to "back you up" or vouch for you. The co-signer, in essence, is saying that s/he believes you will repay the amount borrowed plus interest AND, if you don't, the co- signer will be responsible for making the payment(s) for you. Asking someone to be your co-signer is asking a lot, especially if you really can't afford to buy the vehicle and/or are not good at handling your finances. If you have ever borrowed money (even a small amount of cash) from a friend/relative/neighbor/co- worker, or other person but did not repay him/her in a timely manner (or at all), you are a poor risk and may have difficulty finding someone willing to co- sign for you. Alternately, something of value that you already own (boat, diamonds, gold bars, etc.) could be used as "collateral" - meaning it becomes the property of the lending institution if you default on your loan. You will need to demonstrate that you pay your monthly living expenses/bills promptly as due and have not been reported for being more than 30 days past due on any account (gas, electricity, rent, etc.). You will also need to provide proof and length of employment, as well as a monthly income high enough to meet all of your expenses plus whatever monthly payment your car will be. Getting approved for a loan can be difficult without the needed credentials. If your application for the car loan is not approved, you may be able to get approved for a much lower amount on a less expensive vehicle. If that doesn't happen, you might have to postpone buying a car and work on establishing credit. I presume your new employment at "UNC" means a university. If so, your fringe benefits might include joining its credit union - which may be willing to extend you credit by virtue of your employment contract. You might want to use the credit union as your first choice of "where to turn to"....and be driving your new car within days!

P.S. I just love how you are "new in US" and have already grasped our slang (or regionalism) - you are "GONNA WANNA" cry when you find out how much interest you will have to -- I mean, HAVTA -- pay once you do get a loan! (Good luck!)

You have a few options, try seeing what a dealership has to offer you or a credit union. And they will explain their process to you. Good luck