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It all started in 1769 with the creation of steam engine automobiles and now, cars have become an inevitable part of our life. In our culture, owning a car is getting closer to the American dream. But, cars are getting expensive and even though the economy is getting on its feet again, it is difficult to buy a car without auto loans.Most experts say you can really improve your chances by getting a down payment. Down payment is the initial upfront amount that you pay to the dealer. When you put money down, you automatically reduce the lender’s risk by lowering the loan amount. You also increase the lender’s trust in you and your financial ability.But, is getting a down payment easy? Most of us are dreaded by the word of it. We get an auto loan because we are short of cash. Then, how is making a down payment possible for us? One may argue that a down payment amount is only 10%-20% of the total cost of the car. Nonetheless, it is a big amount for all of us because we have just suffered the blows of a recessionary economy.So, what’s the inexpensive alternative to a down payment? The answer is simple. You can avoid putting money down by opting for a no money down auto loan. Yes, these automobile loans are very much possible today. Demand is rising in the auto industry and this year has been the best since 2008. With the European crises, German and Italian auto makers are also pushing car sales. The delinquency rate is at its lowest since 1999. TransUnion reported that delinquencies fell to 0.36 percent from 0.46 percent of last quarter of 2011. So, lenders are now more confident of getting their money back. As a consequence, getting innovative loan options like no down auto loans is very much reality. You are no longer required to hold back your dreams because of lack of down payment.What Are No Money Down Auto Loans?No money down auto loan is a simple type of loan. Like in any other auto loan option, your car will be used as collateral. The lender can sell your car if you stop making payments. As he is in a comfortable position, you can get reasonable interest rates without any trouble. Once you pay-off the loan, the lien is removed as the lender loses financial interest in your car.Now, in other car loans, a down payment is almost mandatory. But, with no down auto loans, you get the option of not making a down payment and thus, saving your money. You don’t need to spend your life-savings or break the college fund to get a car. And, all these benefits for just few extra bucks. Seems a good deal, isn’t it?How to Get No Money Down Auto Loans?Applying for a no down auto loan is very easy. All you have to do is search a lender who offers this option. Once you find a reputed lender, online or otherwise, apply with him. Absolutely anyone who needs a car loan can apply for this loan. Poor credit is not an issue if you can convince the lender that you are not a high risk borrower. For this, a stable income and employment will play a major role.What Documents Are Required for Availing No Down Payment Auto Loans?An uncomplicated car loan process makes sure that your car buying process is gratifying.Getting a car loan without down payment is simple and easy because there is nothing extra that needs to be done. The application process is simple and not different than other loan options. Even the list of required documents is the same.1. Recent pay stubs or W-2 Form can be used as income proof by those who are employed. For self-employed and independent contractors, there is Form 1040.2. Utility bills like phone bill and rent is used for determining the amount of time you have spent at your current residence.No money down auto loans can be your chance of buying the car that you have always wanted. It is time to say no to huge down payment amounts. Welcome your new car without dreading about anything. Do not waste any more time in applying for this incredible option!