How hard is it to get a car loan as a graduate student?

vuwildcat07: How hard is it to get a car loan as a graduate student?
I am graduating from college this year but am planning on doing a 1-year graduate program. I had my own car that my parents bought me but it was totalled in a freak accident. They purchased a new car with the insurance money and I got my dad’s old car. Technically, the car I have is supposed to go to my brother and since we won’t be living together next year one car between the two of us won’t work. Most car loans I have looked at have an immediate income requirement and unless someone “holds” a job for me while I’m in grad school the most I will have is $ 300 a month in income. I am thinking of trying to take out extra money via student loans since this will be a “necessary” expense for my schooling. Any ideas/suggestions?
I would imagine that my credit score is rather high–I use credit cards wisely and always pay the bill in full & on time.
Due to my parents’ requirement that my car have ABS and side curtain airbags (they said they’d pay for insurance until after school), the car I would buy would have to be new or only a few years old (meaning that I would have to spend at least $ 10,000).

Answers and Views:

Answer by braulio
well you have to have good credit first, so i think it is kinda hard. its better if you take it out on someone Else’s name

Answer by kentata
If you have a high enough FICO score, it shouldn’t be difficult at all.

Answer by George R
First talk to you parents and see what they suggest.

Answer by don’s auto service
well it all depends on your credit score and all that but because your in college it should not be hard for you to get one . that is if you got all you bills paid for school

Answer by fireproof
Depends on your credit history/score.

Answer by robert w
You need to buy a sleeper car from an old lady for CASH. only. No loans means no worries or repossessions or learn the bus runs. You are looking to go into debt slavery before you even get work.
OH lose a loans , you get a default and you will be surprised how many of your job applications get lost.
visit DaveRamsey.com to learn before you get cremated/burnt.

Answer by mommy2savannah51405
its easy if you are a new college grad..honda/toyota/hyundai..most major dealers have “grad programs”

Answer by jIMBO
YOU CAN O TO A CAR DEALER THAT CARRIES THEIR OWN PAPER EXPLAIN YOUR SITUATION ANDTRY TO GET SOMETHING YOU CAN AFFORD TO HELP GET THROUGH GRAD SCHOOL. BE HONEST AND MAKE YOUR PAYMENTS AS AGREED AND YOU SHOULD MAKE IT.

Answer by iamdamoon
Consider the Auto Loan Marketplace at . Auto loans for any credit situation. Good Luck!

Answer by izdaleka
You can get a fast easy student loan for car and start driving to university and other places instead of taking a bus.

Applying for a car loan student financing programs is easy. First you will need to find companies that offer the ability to apply for fast easy student loans for car.

There are many different places where you can look: your local banks, credit unions, internet banks, consolidation companies and other financial organizations. Try Online as well!

When you apply for a student car loan through one of the easy car loan student financing programs, you should select the program that offers the lowest interest rate.

You might be able to find programs that will allow you to defer your loan repayment or at least the principal repayment part until the end of your study.

Answer by randyrich
The main objective here is to get you through and out of grad school. You must do that.
What I would do is to get some money together and buy yourself a well-maintained, used Honda or Toyota for less than $ 5,000 dollars. Stay away from leases and tote-the-note lots.
Lots of these cars available and still have a few dependable years left in them, which will get you through grad school and you won’t have a car payment. Even if you did, it would be a hundred bucks a month. You can buy a new car after getting out of grad school. Also, go easy on the student loans. You have to pay it back. Good Luck!

Answer by playboyprincess6904
many dealerships have 1st time buyer programs. u should check out toyota/scion i know they have one….and i think honda and mitsubishi does too. ask about it. it shouldn’t be too hard if u have already developed some credit.

Answer by heart breaker
u will probably need a co signer