Purchasing a car is a pretty major step — especially if you’re a
first-time car buyer with no credit history established. If you’re new
to the world of credit and financing, here are a few suggestions to
consider before you begin the car-buying process:
Learn the benefits of auto financing. The main advantage of financing a car over leasing one is
that you’re ultimately paying to own the vehicle.
Consider buying a used car. Although there’s nothing quite like that new car smell and
shiny new paint job, the value of a brand new car depreciates the
instant you drive it off the lot. With a pre-owned vehicle, you can
get similar tech and safety features as a new car, but for a cheaper cost.
Know your auto financing options. If you’re someone with bad credit or no credit established,
it may be difficult for you to obtain credit approval. However, car
dealers that are enrolled on the Credit Acceptance auto finance
program can help you get approved for financing, regardless of your
So now that you have a better idea of what you should know
before starting the car-buying process, it’s time to get
started on your credit approval!