Here is my advice. Find the car you love that is within reason, put a decent down payment and deal with the loan you are getting. What is most important to know is that since you are a 1st time buyer the bank is unsure weather you will pay your monthly payments on time or not since you have no history so they offer you a loan with a slightly higher interest rate. Pay your payments on time for 6-8 months to establish a good relationship with the bank and credit record. Take that good track record and either refinance or trade into a newer car. The banks will now have confidence that you will pay your loan and offer you a lower interest rate and make the loan more worth your while.
This is my to to you. Imperial Capital Cars takes pride in giving customers advice and knowledge on their future car purchase.
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