About First-Time Car Buyer Programs for College Students

Written by Mark Hergert
Published on 28 July 2012 Hits: 52987
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First-Time Car Buyer Programs

First Time Buyer

Going to college is an exciting yet frightening time for most
teenagers. One of the primary benefits of graduating high school and
attending college is independence. Without a good car, independence is
difficult to achieve. Relying on buses, subways, rides from friends or
worse family members is a good way to feel that your growth is being stunted.

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Buying a car will not only give you independence, but also help build
your credit rating. A good credit report is essential to your future
in countless ways. These days, many potential employers will check
your credit to judge whether you are an honest person. As unfair as it
sounds, such people will not believe you are a trustworthy person if
you pay your bills late or do not pay them at all. So, be sure to
always make your monthly car payments on time to avoid credit
problems. Also, if you do not pay a car loan on time the bank can
repossess your vehicle. Thus, you will lose all the money you’ve
invested into your vehicle as well as your transportation.

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If you have a good part-time or full-time job and been with the same

employer for at least six months, you can probably get a car loan
without a co-signer. This is great because you are truly asserting
your independence. But if you do not have a steady job, you will need
to ask a parent or another family member to apply for the loan with
you. If you fail to make the payments, the lender will pursue the debt
with the person who co-signed on your behalf.

 


Most car lenders want to see good credit before issuing a loan that
requires little to no down payment. The beauty of first-time car buyer
programs for college students is that you can get a low interest rate
little to no down payment, and easy approval as long as you can prove
your ability to repay the loan. Apply Today Auto Credit Financial

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Helping College Student's and First Time Buyers for Over 25 Years

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Information You Need Before You Buy

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After years of delays, the credit industry finally agreed to give consumers access to their personal "credit scores." This is important, because lenders use credit scores to determine who to give credit to and at what rates. Knowing your credit score can be empowering,If it's low you can take steps to improve your credit worthiness and if it's high you may be able to use it as leverage when shopping for your next car loan.