Auto Financing for First Time Buyers
Auto Financing for First Time Buyers
Learn How to Finance your First Car!
Just finding your first car can be overwhelming and sometimes stressful. Add on having to figure out how you plan to pay for it, and you’ve got the recipe for quite a headache. However, Akins Chrysler Dodge Jeep Ram is here to ease that headache and make the entire car-buying process more stress-free. Here on this page, you can find a few tips on how to get behind the wheel of the car you want in the best financial situation. Then, use our secure online financing application to see how much you can afford!
Set a Budget
As you may have already been told, it is critical that you set a budget before shopping for a new car. This will help keep you focused on cars that you can afford. Start by looking at your current monthly income and expenses to see where a monthly car payment can fit in. While looking at your finances, you should also determine how much you have to use for a down payment. While not always required, down payments allow lenders to assess the application’s credit risk while also lowering your monthly payment and interest rate. When you find the car that you love, use our Payment Calculator right here on our website to get a rough idea of how much you could pay monthly.
Consider a Co-Signer
Getting an auto loan oftentimes requires the buyer to have some credit history, which can make it difficult for some first-time buyers to get financing. However, there is a way to get approved if you don’t have much credit. Signing for a loan with another person with more established credit, called a co-signer or co-applicant, can help increase your chances of getting approved for a loan. A co-signer can be a friend, spouse, or parent. Co-signers and co-applicants help to guarantee the financial institution that the loan will be paid, even if the primary owner can’t make the payments. A co-signer and co-applicant are mostly the same idea. However, there is one difference between the two. This is that a co-applicant has equal rights to the vehicle and the loan, while a co-signer has rights to the loan only.
Get Pre-Approved First
When you go to buy a car, the more knowledge you have, the more confident you will feel. To give you this knowledge and confidence, you want to know how much you are able to spend on a car. To figure out your buying power, you should get pre-approved for financing. Using our secure financing application will show you a total cost, monthly payment, and interest rate that will put you in the best financial position. Having this information will help narrow your focus to the cars that are within your budget.
First-Time Auto Financing Near Me
While obtaining financing and getting your first car can get overwhelming, the sales and financing teams here at Akins Chrysler Dodge Jeep Ram are here to help. Right here on our website, you can use our secure financing application and browse our extensive new and used inventory to find the car that fits your budget and your needs. If you prefer, we invite you to visit us in-store to work with our friendly sales and financing teams to get you the first car you want at a price you can afford. We look forward to working with you!
All pricing and details are believed to be accurate, but we do not warrant or guarantee such accuracy. The prices shown above, may vary from region to region, as will incentives, and are subject to change. Vehicle information is based off standard equipment and may vary from vehicle to vehicle. Inventory is subject to prior sale. All prices are plus tax, title, and registration. New(not previously titled) are also plus Georgia Lemon Law fee. Any discounted prices may include factory dealer retained rebates. Must print ad to receive internet price. Call dealer for complete pricing details. *MSRP may include factory discount packages and any dealer installed accessory or add-on. We do not sell to consumers in the states of California and New York
Max payload/towing estimate ratings shown. Additional options, equipment, passengers, and cargo weight may affect payload/towing weights. See dealer for details.