You are finally ready; you graduated college and landed your dream job. Now it is time to update your ride. Since you are a first time buyer of a new vehicle, you may qualify for special discounts and interest rates. The rates on personal loans vary from lender to lender so be sure to shop around. You may also want to speak with your local bank or credit union because sometimes they can beat the rates of the bigger lenders. They may also offer special discounts since you already do your banking with them. Be sure to speak with your local lender prior to going car shopping so you can get the best deal.