First Time Car Buyer Program in Lisle, IL
Whether you recently moved out of your parents’ house and need a vehicle for job interviews or you’ve been taking public transit your whole life, purchasing a vehicle for the first time can cause some serious apprehension. Fortunately, our First Time Car Buyer Program at Bill Kay Chevrolet in Lisle aims to make this transition a smooth process that eliminates having to jump through hoops. To learn more about our advantages, comb through this overview, then use our online tools to get the ball rolling.
Challenges
Before we discuss how to qualify for this program, let’s go over some of the hurdles you’ll typically have to overcome in your pursuit of your first car. For starters, since you don’t have a solidified history with auto loans, many lending institutions will view you as a higher risk. This usually results in you having to settle for high interest rates because this is the lender’s form of coverage and incentive. You will be happy to learn that we won’t turn you away based on your credit score since we understand many of our first time car buyers have recently graduated and haven’t had the opportunity to solidify their credibility. Instead, we will work with you to create a plan that allows you to accomplish exactly that while cruising down Route 30.
Do I Qualify?
We understand that everyone’s current situation is different, and that’s why we’ll discuss some of the credentials you’ll need to be eligible for our First Time Car Buyer Program. At its core, the people that are typically approved for this offer are drivers who have never financed or leased a vehicle before. So, if your parents gave you a vehicle during highschool that was in their name, you’ll be permitted to enroll in this plan. Keep in mind, although leasing is considered very different from buying, it still takes you out of the running for our program since you had previous financial ties to an automotive loan.
Getting Started
In order to hit the ground running when you arrive at the dealership, there are some crucial steps that need to be completed ahead of time. For starters, we’ll require your driver’s license to verify that you’re able to operate a motor vehicle on your trips to The Morton Arboretum. We’ll also need proof of income, so bring in a few pay stubs or screenshots of your banking statements. This will allow us to see if you’re able to afford your prospective model. To make sure you don’t exceed your spending restrictions, create a firm budget by subtracting your average monthly expenses from your 4-week salary. The amount you have remaining is what you can put toward your future car. To get a better idea of what your purchasing power is, utilize our online Payment Calculator.
