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3 Secrets That Dealerships Don’t Want A First Time Car Buyer To Know

Buying your first car is an exciting experience and can be a little intimidating and scary. With so many options to choose from and what you need to know about financing, there’s a lot of time and careful consideration required.

Being new to the whole experience is overwhelming and that last thing you need to worry about is making the wrong decision. Here’s the 3 most important things you need to know that a dealership or bank will not tell you.

Interest Rates

You may be a first time car buyer but that doesn’t mean you are a high risk to financial institutions. Unfortunately, banks and dealerships do not always educate themselves on special programs that are made just for your situation and it’s easier to get an approval at 29%. Yes, you read that right; 29%!!! If you were to purchase a vehicle that was $10,000 and finance it at 29%, you will end up paying $19,980 at the end of your 5 year loan. Not to mention your high payments that could have been avoided right from the beginning.

People that qualify for better rates:

  • Students
  • Landed Immigrants
  • Limited or No Credit
  • Other First Time Buyers

You qualify for Prime interest rates just like everybody else, however, the finance programs are nearly impossible to find and most dealerships or banks do not offer them. If you are a Student, New To The Country, or other First Time Buyer and would like to know more about these programs, CLICK HERE.

Zero Down

It’s never a bad thing to have some cash down to put towards your purchase but sometimes that’s just impossible. With all the responsibilities we have, the last thing we need is a required $3,000 down to buy a vehicle so we can get to work or school.

Do not assume you require money down for your first purchase! There are many programs that offer First Time Buyer’s with a zero down option and that goes a long way!

Your Vehicle Choice

You may be wondering why that would be a secret that the dealership would keep. Well, if you’ve tried to purchase a vehicle before you already know what I’m talking about. For those of you that haven’t, here’s what happens…

Because you are a First Time Buyer and the dealership doesn’t know about First Time Programs or just chooses not to offer them, you spend your time shopping for a vehicle and when you pick something out and go to get approved on it, they tell you they can’t get you approved… at least not on that vehicle. So they offer you an alternative, which is something you don’t want, that requires money down, and at 29% interest. You’ve wasted your time, hit your credit, and you leave with no keys.

Guess what? First Time buyer programs allow you the flexibility to purchase what you want, within reasonable means of course. Here’s the requirements for most First Time Buyer Programs.

  • Can be New or Used
  • Maximum amount $30,000
  • Some sort of income

That’s it!


To sum it all up, make sure you do your due diligence when preparing to buy your first vehicle. Making a simple mistake like 29% interest because that seems to be your only option, can haunt you for years and cost you thousands of dollars.

Creditline ONE  is a all-in-one solution available to First Time Buyers and charges No Fees to use. If you’d like to know more about Creditline ONE‘s First Time Buyer Program, contact us today!