First Time Car Buyer Interest Rate at Buying

First Time Car Buyer Interest Rate. If you have enough cash, paying for the car entirely upfront might be good advice for buying your first car. The more you put down, the more likely you are to get approved for a better deal, since you won’t have to borrow as much.

Believing the dealership is there to help you. You may also be able to get your credit score for free through your credit card provider. So if you're budget calculations doesn't allow for 20% towards your brand new dream car, then you should reconsider buying a new car.

How do they get more costly? She is a first time buyer with very good credit. Paying cash eliminates the interest cost associated with financing. Finance the vehicle at a higher interest rate than they actually qualified for.