Bad credit auto loans?
I'm a student and kinda stuck in getting a auto loan. Basically, I need a car to get to work, to get a car I need a auto loan, to get a auto loan I need a job (to show the proof of employment). So, how am I suppose to get a auto loan with a bad credit, no co-signer and no employment? I would really appreciate any help!!! I live on campus and the transportation system here sucks (Houston, Texas). It's next to impossible to get a job on-campus because it's very competitive. I'm trying my best to get some kind of loan to get a decent car. Thanks for your responses though!
Public Comments
- You can't. How do you expect to repay a loan with no job? No lender will go for that.
- The short answer: You can't. You need a job first. It sounds like Catch-22, but if you've got decent public transportation (a/k/a the bus), you have no excuse for not being able to get to work. Bus fare is less than the cost of a newspaper in most cities. I've taken the bus a few times when my car was in the shop. No one is too good to take public transportation.
- There are many ways to get "bad credit" auto loans. Any major dealer can get an lower credit score ap pushed through with a stack of high score aps. The problem I see is that you don't have a job. Perhaps you can find employment close by your housing for a couple of months and ride your bike or walk to work (most banks want at least a 2 month job history). Without some form of employment or income it is not likely that you would be approved for a loan of any kind.
- Sorry, they gave you good answers, even if someone gave you a little car, or your parents bought you a card, you would still have to pay you insurance.
- get a student loan and buy a car with it
- Simply not without employment. Once you get a job you can then apply for the loan. There are bad credit, no-cosigner loans available in the market. Here is the reliable source for your future reference http://carloan123.net
- There is a way for students to receive financing for a vehicle. I wouldn't expect to drive off the dealers lot in a new Hummer, but there is creative financing for a person in your position. Try this resource; http://www.highriskfinance.com
* Some answers may have been provided by Yahoo! Answers.