In case of final year students the first time auto buyer program
providers normally give some discounts on the loan amount. However,
these benefits are provided only to people who are graduating from
colleges or universities with 4 year programs. Lots of consumers, who
have previous experience of these loans, think that the top auto
companies use these offers as gimmicks to attract customers who
otherwise may not be able to buy such a car. They think that these
promos are primarily meant to get rid of products that may not be at
par with the very best from their assembly lines.
Others have equated the first time auto buyer programs to balloon
notes. They are of the opinion these offers and their viability depends
on the dealership that is providing them. These consumers feel that
the chunk payment in these plans needs to be done at the fag end of the
loan repayment period while the amounts to be paid before are
primarily lower than that. The top companies in the automobile sector,
however, offer these programs and profess a commitment to making them
as smooth as possible for the consumers who may have no experience
whatsoever of buying a car.
The first, and perhaps the most important, thing about a first time auto buyers program is
that the applicant should have a decent level of income that is earned
at regular intervals of time. This will convince the car dealers that
the borrowers are capable of paying the loan back. However, a good
amount of down payment is also necessary in order to secure these
loans. In case the borrowers are unable to provide any of the following
they will require a co-signer to get the loan or they may need to wait
till they get to the final year of their college.
These companies put all the resources that are necessary for a first
time car buyer to make a good decision since they state that they
understand the importance of such a financial decision. Some examples
here are answers to their queries as well as suggestions for them.
