When you’re a first-time auto buyer, the number of choices can be overwhelming. If you have any questions, check out this guide from our team at PA Auto Credit. With our help, you can find a plan that works and get on the road in your first great drive.

Do I Need a Long Credit History?

You can get financing for a car even if you don’t have a long credit history, although it may be a little more difficult. With a weaker credit history, you can expect a higher interest rate and longer terms. If you don’t know what your credit score looks like, make sure to check it using one of the many free tools available online, like Experian®.

How Do I Prove My Income?

If you receive traditional paychecks, bringing in a W-2 form is usually the easiest way to prove your income. You can also bring in pay stubs or a letter from your company if you have recently started a new job. Self-employed drivers and freelancers will want to bring in their W-9 forms or bank statements.

Do I Have to Make a Down Payment?

A down payment may not be required for your new car, but it’s a good idea to make one anyway. New cars lose a big chunk of their value through depreciation during their first year on the road. If you don’t make a down payment, you can quickly end up “upside-down” on the loan, which means you owe more on your loan than the car is currently worth. Generally, it’s a good rule of thumb to make a 20 percent down payment.

How Do I Make Payments?

Making payments is easy with our online car loan payment portal. You can make a manual payment each month or set up a recurring payment. Plus, you can pay separately for your side note, primary, and pickup payments, so you’re in charge of your financing plan.

Do I Need a Cosigner?

If you are having trouble getting approved, adding a cosigner can be a great way to find a plan that works. However, make sure you and your cosigner have a conversation about what you will do if you have trouble keeping up. Any missed payments affect the credit score of both signers, so clear lines of communication are important.

Find First-Time Auto Buyer Support in Fairless Hills, PA

At PA Auto Credit, we’re passionate about finding a car financing plan that works for every driver. Call our Fairless Hills, PA, credit center and find out how we can help you get behind the wheel. Talk to our team about our available auto financing upgrade program and find the car for you today!