Asked by Feb 26, 2017 at 08:43 PM

Question type: Shopping & Pricing

I am a first time buyer with no credit. I need to
know how i can finance a car around 10,000. I have
2,000 to put down. I am really needing payments to
be around $200-250 a month if possible. If there is
any advice that would be great.

3 Answers


Usually a credit union has a fairly good rate for first time car buyers. If you are looking to keep the inquiries at a minimum definitely talk to a credit union or your personal bank first. Because alot of times the dealership will run your app with multiple places until they find the best APR and approval for you which can sometimes lead to quite a few inquiries. Those can hurt your credit, regardless of not having any.


Credit unions will be your best bet. I don't trust used car dealers when it comes to credit or anything else.


With a 48 month term and 4% interest you should be able to keep the payments down around $200. The rate you get will depend on your credit, job and income. Make sure your car will outlast the payments!

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