Can I use a college room and board statement as proof of residency for an auto loan?

I am looking to get an auto loan while still in college. I have already begun a full-time job. However, I have lived in the dorms all four years and will continue to do so before I graduate in May. I need a car. Can I use the statements on my college bill regarding room and/or board as the proof of residency that all auto loans require? After all, I have been the one paying to live in this dorm room for four years.

Can I use a college room and board statement as proof of residency for an auto loan?
Unless that address matches your drivers license, no.


But please stop thinking about getting into debt! When you earn a dollar you’re lucky to get 80 cents, but when you save a dollar you get the whole dollar. But you pay back financed whole dollars with earned shrunken dollars. So it often pays better to work at saving on expenses than it does to just work for money.


Also, don't buy any car, new or used w/o reading up here:


http://www.usedcartips.org/





I like the answer from Jaclyn%26amp;D, but I DISAGREE with Dave Ramsey on putting money in a Mutual Fund, better to use an annuity, CD or money-market. I've had a Mutual Fund crash, taking with it my "investment" avoid the Stock Market, except for gambling money.
Reply:No, it is not considered your permanent residence.
Reply:Needing a car and needing a loan are very different things.


Why not save and buy a car for cash? Unless you want to start out your adult life with debt and payments, that is.





Buying used cars for cash is the smart way to buy cars ... don't take out loans on things that drop in value!
Reply:I can see no reason why that would not work. Good luck.
Reply:No. You'll need to use your driver's license. But, changing the address on your driver's license just takes a drive to the DMV. People use dorm addresses all the time on their license.

lilac