Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Will I be able to get a loan?
I'm 18 years old and have no credit but I have a very good paying job and I have 6 months worth of pay stubs that can prove my income. There's a car that I want to buy and it's almost $30,000.. do you think the bank would give me a loan for that car if I gave them pay stubs?
14 Answers
- Anonymous4 years ago
no chance and slim chance and slim's out of town... banks want 2 year's employment before they'll even think about a loan...
- Anonymous4 years ago
Minimum wage full time is not good money.
- R KLv 74 years ago
probably no chance unless you have a co signer. you don't have a long enough job history.
- ScottLv 74 years ago
With no credit? Probably not, unless you put something like 50% to minimize the lender's risk. You have no proven track record of paying your bills on time.
- How do you think about the answers? You can sign in to vote the answer.
- AlCaponeLv 74 years ago
You could get a co-signer which would take care of your credit problem, but my guess is that you don't make enough income for a $30,000 car, and a co-signer can't solve that issue for you.
- Anonymous4 years ago
no chance.
- JetDocLv 74 years ago
No, Skippy... You WILL NOT get a loan for $30,000 at 18 years old and with no credit history. Either get mommy and daddy to co-sign for you, or buy a cheaper car and build up some credit so you can buy your NEXT car in a couple of years.
- Jay PLv 74 years ago
I doubt you could get a loan on your own but you won't know the answer unless you apply for a bank loan.
My guess is that you will need a co-signor and/or a substantial down payment to qualify for a $30K loan at your age.
- Howard LLv 74 years ago
The dealer has influence with banks and can probably help you get a loan. The question you should be asking is what interest rate will you have to pay. You might have to pay more in interest and bank fees than the cost of the car.