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Originally Posted by dookie11
Anyone have experience obtaining an auto loan while unemployed or as a fulltime student. ? I have a 756 credit score and was gonna get help paying for the car/loan from my mum and financial aid, so watcha think about my chances of landing a lowrate is/are?
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I bought a Tacoma in 2007 while a junior in college. I was working part-time, in school full time, and had my dad co-sign on the loan - I was only able to get a 5% interest rate. I also put down $17500, so the remaining loan was <$10000, worked out to be monthly payments of $197.15/mo for 60mo. Paid it off within 6 months of graduation and saved approx. $600 in interest - definitely worth it to check your loan amortization tables and see if it's worth it to pay off sooner.