* Federal Credit Union Administration (FCUA) First-Time Car Buyer Program: This program provides auto loans to first-time car buyers with low credit scores or who have been denied credit from other lenders. The loans have a maximum interest rate of 15% and do not require a down payment.
* National Automobile Dealers Association (NADA) Used Car Financing Guide: This guide provides information on average used car prices, interest rates, and down payment requirements. It can be used by consumers to negotiate a fair price on a used car and can also be used to obtain a loan for a used car.
* Consumer Federation of America (CFA) Auto Buying Program: This program provides consumers with information on auto loans, car buying tips, and credit reports. It also offers a network of dealerships that offer discounts on new and used cars.
* Credit Unions: Many credit unions offer auto loans with low interest rates and no down payment. To be eligible for a loan, you must be a member of the credit union.
* State and Local Programs: Some states and local governments offer down payment assistance programs for low-income individuals. Check with your local government or housing authority to see if any such programs are available in your area.
* Dealership Incentives: Some dealerships offer down payment assistance programs or discounts to first-time buyers or buyers with good credit. Be sure to ask about any available incentives when shopping for a car.
It is important to note that some programs may have specific eligibility requirements, such as income limits or credit score requirements. It is also important to read the terms and conditions of any loan program carefully before applying for a loan.
