Are you in the market for your First Car? That's a pretty big deal but we can help you! Our guide should help make the process a lot less stressful!
Usually new cars lose up to 60% of their value within the first 3 years. Buy Smart! Avoid buying used car from a private seller. There’s a lot of risk involved. Buying and selling a car at a dealership is a lot easier and more secure.
Save as much money as you can for a reasonable down payment. This will be a good sign for lenders and will allow you to obtain a lower interest rate, which will lead to low monthly payments. When you put more money down, this is taken off your initial loan. This will not only decrease the payments, but it may also affect the interest rate.
Even if you have a secure, well-paying job, your interest rate may be quite high when looking through financing offers. To avoid this, get a co-signer who has a good credit history. This will positively impact the interest rate on the loan and lower your monthly cost.