First Auto Purchase and Loan - Help Needed

[Tg123]

Hi Everyone, 

Really haven't spent a lot of time here, mostly in the credit card forums and hoping to get some guidance. I just graduated from college and will be going up north for a year to complete my masters. I need to get a bigger car with 4x4 given the terrain. I am looking at cars right now, but I am a little lost when it comes to the auto loans. I see that DCU comes up a lot and saw that they advertise 1.24%. Is it possible to get penfed to beat that rate? I would be classified as a grad student and have income around $30,000. My current score is around 750. Any pointers or tips appreciated!

[martinsoka17]

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@Tg123 wrote:

Hi Everyone, 

Really haven't spent a lot of time here, mostly in the credit card forums and hoping to get some guidance. I just graduated from college and will be going up north for a year to complete my masters. I need to get a bigger car with 4x4 given the terrain. I am looking at cars right now, but I am a little lost when it comes to the auto loans. I see that DCU comes up a lot and saw that they advertise 1.24%. Is it possible to get penfed to beat that rate? I would be classified as a grad student and have income around $30,000. My current score is around 750. Any pointers or tips appreciated!

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First, I would call around to dealerships and ask what kind of college graduate discount they give. Around me, they offer a 0 down, 0% APR for 5 years & $500 discount for recent college grads. My good friend just bought a brand new Ford Fiesta (a little bit smaller than what you're looking for ) as a grad present to herself. 

[Remember0]

I second the look at manufacturer's college discounts/programs first esp. if you are buying new!

What's the source of the 30k income by the way? Hopefully it's wage income and not like a stipend or something...

For DCU, they should approve you given FICO. I just don't know how much car you are looking for though?