Vehicle Financing for Young Driver

[zpcsc]

Hello, My Goddaughter wants to purchase a new vehicle. She is 19 has good credit, so far, but fairly new. Are the rates higher for young drivers? What financial institution do you suggest?

This board suggested the United Senate Federal Credit Union for my car and it worked out great! Please advise.

 

Thank you, as usual.

 

[MarvBear]

Usually, the APR for an automobile loan is determined by the FICO® score of the applicant, unless the applicant might qualify in a more advantageous way.

[jamied]

Since you had a good experience with United Senate Federal Credit Union, that’s a great place to start! They often have lower rates than banks. Just remind her to shop around a bit to score the best deal