Auto Financing for First Time Buyers
at Pearson Auto Group
Buying your first car is an exciting time, but it can also be a daunting experience that requires decisions you may never have had to deal with before. Picking the vehicle is not the only step that can be overwhelming. Figuring out how you will pay for said car can cause more stress than the ladder. You need to set a budget, find the right vehicle, and, most importantly, evaluate your financing options. Deciding how to finance your car is unfamiliar territory for most first-time buyers. However, buying cars is one of the most significant purchases you will make, which is why it is a perfect reason to work out what they may afford.
Down Payment
As a first-time buyer, you will most likely be required to put money down to show the bank that you are committed to this vehicle. However, much you can offer will impact how we analyze the credit risk involved in your application. It may save you money on interest, too.
Pick The Right Vehicle
Once you have figured out how much you can afford to pay, the next step is to research suitable vehicles. Whatever you have in mind, the Pearson Group is sure to have it with locations that sell Toyota, Mazda, Hyundai, Honda, and Genesis models, as well as dealerships that specialize in Chrysler, Jeep, Dodge automobiles, and RAM trucks. So whatever style of vehicle you prefer driving, you can visit one of our dealerships and find a model that will fit you like a glove.
Consider a Co-Applicant
As a first-time buyer, you may want to consider teaming up with a creditworthy co-applicant. Applying with another party, such as a parent, often increases the opportunity to get a higher financing amount and a better interest rate.
Get Preapproved
The best move you can make when car shopping is to get preapproved for your financing. Pearson Auto Group enables you to apply for credit in minutes and receive a decision in seconds. Approved applicants can then shop with assurance and save time at the dealership.
Moving Forward
An additional benefit from financing your vehicle is that every payment you make on-time builds credit for the future. Therefore, a stronger credit score will save you money on your next vehicle purchase and any other purchase you choose to finance in the future.
Visit Pearson Signature Dealerships if you are a first-time buyer!
If you are looking to buy your first car and are not sure where to start, come to visit us at Pearson Signature Dealerships, we're ready to help you by answering any questions you might have. We want to make the process of buying your first car stress-free and straightforward. We also have many tools that you can utilize to save some time with our online finance application, which helps make the process smoother and gives us a chance to find you the right plan and put you one step closer to getting behind the wheel of your next car.Â