Know before
you go

No credit is not bad credit. It only means lenders have no history to score yet, and plenty of first-time buyers get approved every week.

What helps your application

• Steady income you can show. Bring your two most recent pay stubs.
• Proof of where you live, like a lease or a utility bill.
• A down payment. Even a modest one lowers the amount you borrow and the monthly payment.
• A co-signer with established credit, if you have someone willing.

What to bring

Driver's license, proof of insurance (or your agent's number), pay stubs, proof of address and your down payment.

Then build it

Pick a payment that fits comfortably and pay it on time, every time. That first auto loan is one of the quickest ways to build a credit history. Ask about first-time buyer and recent-graduate programs while you're in.

Build my deal

A trade-in number comes from what your car would sell for today, minus what it takes to get it ready to sell.

What moves the number

• Year, mileage and trim.
• Condition inside and out: tires, brakes, paint, glass, warning lights.
• Accident and service history.
• Demand. Some models and colors move faster in New England than others.

If you still owe on it

The dealership pays off your loan. If the car is worth more than the payoff, the difference goes toward your next one. If it's worth less, that gap gets worked into the new deal, so know your payoff amount before you come in.

What to bring

Title or lender payoff details, registration, every key and any service records. A clean car with its paperwork appraises better.

In Massachusetts, sales tax is generally figured on the price after your trade-in, which is one reason trading in at the dealership can beat selling privately.

Value my trade ↗

Leasing fits if

• You want a lower monthly payment on a new car.
• You like a new one every few years, always under warranty.
• You drive a predictable number of miles. Leases set a yearly mileage allowance and charge for going over.

Buying fits if

• You keep cars a long time. Hondas hold up, and payments stop when the loan ends.
• You drive a lot, or don't want to think about mileage or wear charges.
• You want equity you can trade in or sell later.

Not sure?

Bring your monthly budget and your yearly mileage. Seeing both options side by side on the same car usually settles it in a few minutes.

Ask me