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Rebecca Chernek, President and Founder at Chernek Consulting Inc. Hi Christy- Some manufactures have "subvented interest" rates for "first time buyer" under a "first time buyer program"... however in order to qualify for a first time buyer you will need to show that you are a two or four year college graduate. Sometimes the manufactures- Toyota, Honda, Ford, GMAC will extend a first time buyer incentive if you can demonstrate that you are established, how long at your residence, employment history and verifiable income with ten-twenty percent cash down. Go on-line check the manufactures for incentives and contact the dealer letting them know you did your homework and what program you seek more information. Good Luck! Becky Chernek

Jenny Trostel, Partner at Anderson of Hunt Valley It does not hurt your credit to apply at multiple places for the same type of loan. Because you are a first time car buyer, you may only be able to get a high rate for a loan. How is your credit? If it is average, you will not get a great rate. Buy a less expensive car with a small loan and then get a better car in a year or so after you have established a good payment history. The first time you buy a car and get a car loan can be more expensive until you establish a good payment history. Take your time to find the right car and make a good deal on that car. Good Luck!

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