As a first time buyer it’s a little more difficult but
certainly obtainable to get approved for a loan when dealing with on the lot finance dealers. Most first time buyers have not had a chance to build
enough credit to finance a vehicle with no credit history. All dealerships have
different stipulations and may require that a first time buyer to have the
backing of a co-signer before an auto loan would be approved.
The Right Vehicle For
A First Time Budget
There is one small hurdle to get over when in the process of
securing an auto loan. Especially as a first time car buyer you would want to
find out which car dealers do easy financing. During an in house
purchase process an approval for a certain amount would be granted from a dealer with on the lot finance. It’s smart
to do some research prior to selecting a used make or model. The amount that
you were approved for will ultimately dictate which vehicle that you choose to
purchase. Here is a list of the 10 most affordable vehicles perfect for a first
time buyer’s budget.
1. Hyundai Elantra $14900
2. KIA
Forte Sedan
$14400
3. Suzuki Sx4 Sedan
$14100
4. KIA
Soul $14000
5. Toyota Yaris $13400
6. Smart For Two $12600
7. Chevrolet Aveo Sedan $12700
8. KIA Rio Sedan $12400
9. Hyundai Accent
$10700
10. Nissan Versa
$10700
It may be a wise decision to keep your in house financing auto loan payments as low as possible. Depending on what you have been approved
for, you make the decision of your vehicle choice. A way to keep costs low if
you are more interested in saving money is to reduce the options that came with
the vehicle, if you intend to finance a new vehicle. Otherwise financing for a
good reliable used vehicle could suit your needs just the same and reduce your
auto loan payment quite possibly by more than half.
