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getting a car loan at 19?
I m 18 and im in college and i graduate in september and will be 19 in november and i have to start paying off my loans in april i have a $12000 loan
i already have money saved up and should have $10000 by april and will probably have the other 2000 by july and my loan will be completely paid off
i currently have a credit card and haven t been late on a payment
do you think its possible for me to be able to get a car loan right after i finish paying off my school loans
I'm currently working part time but as of september ill be working full time making at least $22 a hour the only expenses ill have is car insurance and gas and other random things i might want to buy (i live with my parents)
3 Answers
- MuttLv 76 years agoFavorite Answer
With the little credit history, it will be difficult. You can make a large down payment, and it will improve your chances. Or, you can get someone to cosign (like one of your parents).
And as you have done on your credit card, make sure you are not late on any payments. The car loan will help improve your credit score so you will be able to get a loan easier in the future. But you can also hurt your credit score by not paying on time.
- ?Lv 76 years ago
What did they teach you in college? [< a sarcastic question, to which the answer is NOT MATH OR ACCOUNTING / FINANCE.]
PAY THE CREDIT CARD BILL IN FULL EVERY MONTH and save a small fortune in interest expense.
Source(s): an accounting degree
