@Anonymous wrote:
Hi all!
As a college grad. with limited credit history is it easier to obtain an auto loan for a new car via a College Grad. Discount Program or a used car valued at roughly half the cost of a new one? When it comes time for a new car, I would like to buy used at 13,000 or so. I am worried that it would be harder for me to obtain a used auto loan than a new one. It seems college grad programs make auto loans look so enticing and possibly easier to obtain than a used car loan? I plan on going back to school for my master's and don't want the weight of the extra 10,000 or so on my back.
Has anyone been in the same boat or have any advice on the subject? Any help will be most appreciated. : )
OK:
1- A college grad discount is a Discount on the purchase of a new vehicle. In essence an additional rebate.
2- A first time buyer program is a program that helps people who would nomally have a hard time qualifying for a loan, but are otherwise worthy get into their first car loan.
You still need to qualify for the loan, although first time buyer may have less strict lending standards.
yes a new car will probably be more expensive then a used car in amonthly payment--but depending on whatcar you buy possibly not as more expensive as you think- as you may be able to get a better interest rate then you can get on a $10,000 used car.
You have to do the math/risk yourself.
