Get a car loan when I'm 18?

Auto finance is what I do for a living there are 10 things that go into making up a car deal weather it's a purchase or a lease.

1. Term of loan. Shorter the better.

2. Age of vehicle. Newer the better.

3. Miles on vehicle. Lower the better.

4. Amount to finance compared to book value. Lower the better.

5. Credit score. Higher the better.

6. Credit profile. Deeper the better.

7. Down payment. More the better.

8. Monthly income. Higher the better.

9. Time on job. Longer the better.

10. Time at residence. Longer the better.

As long as all of the above are in line with the lender guide lines and you make enough income to budget for the payment you should be approved.

In your case you have many problems to overcome. Lack of established credit, lack of enough income a month & the amount your looking at financing is well below the minimum for any major lender.

Your best bet is going to be your own local bank or credit union.

Good luck.

1

The way are economy is right now any bank would be more than happy to give u a loan assuming your credit is not flagged a d esspedially with a co signer . Your interest on that long of a period will likely be high I'd advise gettin a loan directly from the dealer ship and leave the bank out of the deal. It'll likely be lower interest rate good luck .

This is not a good idea. $7.69 times 20 is not enough money per week to pay for car insurance for someone who is 18. Even if the car was free, getting a car is not a good idea until you make more money or you are older (and can get insurance for less).