Quote:
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?
|
Yea I definitely would not do this. I realize the thought of a new car is nice, but borrowing (financial aid for school) to pay off another loan (financed car) seems like one of the worst ideas possible. As others have stated, if you dont have income, you won't get a loan on your own.
I'd rethink my priorities if I were you. Concentrate on accruing as little debt as possible while in school, then get a car once you graduate and have a job. Or start working while you're in school, so you can afford the cost of the car, insurance, and premium fuel.