Is there anyway for me to get an auto loan?

I am an 18 year old college student. I have never had a job besides Work Study at my college. I have one minor student loan and a cell phone in my name. I am trying to get an auto loan for about $5,000. My mom will pay the car payment, but she is unable to get the loan personally. Does anyone have any valid suggestions?

Is there anyway for me to get an auto loan?
Try and take out an additional student loan
Reply:It is going to be difficult to get a loan for an automobile without having a job. Most auto lenders require you to have verifiable income when you are a first time buyer. My suggestion would be to get a qualified co- signer. Most manufacturers have college grad programs. Nissan Motor Acceptance has a college grad program where if you can provide evidence that you are going to graduate in 6 months they will let you buy a new car. And I believe you can not have any derogatory credit and a $1000 min line of credit.
Reply:I doubt you could get it on your own. I would try to get your mom to co sign.
Reply:i dont think you could get a loan for that amount, but you could keep working on your mother. you need a way to show a finantial place how your going to repay the loan back. even if she has bad credit she could still possibly get a loan. a place is also going to want some kind of colateral. how about any other relitives or friends? can you put anything down on the loan? sometimes car dealerships will give out loans with a high amount down. if your totally desperate for a car, check out buy here pay here lots. i wish i could help but i would need more information.
Reply:yes...don't get something that can't be paid for..since your Mom is paying and she can't get credit, it means she has had a problem before...and you expect her to pay for the car.


You want the car, but have no credit..


Credit for either of you is going to cost 22%-28% apr...no matter how much you want...so unless you have the cash. I'd say don't do it..


(you're losing in the long run to take out a loan.)





Wait till you can pay cash or have enough GOOD credit on your own to get a car.
Reply:what car you planning to get?
Reply:Most of the time they'll need 12mos worth of credit reference and a valid source of income. Since your mom will be making the car payment, and if you don't have a job, her income information will have to be on the application for loan papers. If it doesn't work well for you, get a credit card if you can buy little things, pay them off when due, not just the minimum balance, to boost your credit score. I hope you get approved.

lilac