Questions about a car loan?

[d_alexander1702]

What is a first time buyer car loan? is it likely that I'll be approved with no co-signer?

[Ferret]

As long as you don't have bad credit, yes. They usually finance people with no credit for cars nowdays. Just be careful that you get a short-term loan (4 years or less) or you will end up paying far more than the car is worth because you're going to be paying high interest. I suggest getting the cheapest new car that you can and driving the wheels off of it...or at least keeping it until it's paid off.

[Oblivious]

There are some captive finance companies;ie, Ford Motor Credit, Chrysler Financial that offer 1st time buyer programs, but you have to qualify. Such as job time, minimum income requirment and number of trade lines. I agree with one of the other answers to a point. You need to start off with a less expensive car say $12-15,000, but you do need to budget it accordingly so it is affordable. Good luck!