What to Know Before You Buy a Car as a College Student

Posted: Thursday, May 5th, 2016

If you’re a college student who needs reliable transportation, but don’t have a credit history to speak of, you may think that there’s no way for you to get financed. Luckily, Green Light Auto Credit specializes in buyers with unconventional financing needs. Even in college, we can help you get into the car you want at a competitive rate. There are just a few things for you to know, and some things for you to do, before you fill out our finance application.

 

What to Know Before Financing a Car in College

Getting a car loan isn’t that difficult if you have a regular source of income and you’ve done your homework. There are a few steps you can take now to make it even easier:

  • Down Payment: If you can, save for a down payment. Even $1,000 can show that you consider this an important investment.
  • Build Your Credit: Likewise, you can take out a credit card or small personal loan and make the monthly payments on time. This will help you to build a favorable credit profile.
  • Get a Co-Signer: If you need to get that car now, find a co-signer you can trust to help you guarantee the loan so you can get approved.
  • Find a Part-Time Job: If you’re currently paying your bills through a financial aid program, you’ll need to find another source of income before a lender will consider you for approval.

Following these steps and sticking to a budget will help you stay on track.

Let Green Light Auto Credit Help Guide You Through the Process

The credit counselors at Green Light Auto Credit can help you determine your monthly expenses, including insurance and maintenance, to ensure that you choose a payment that works for you. Then, we’ll search through our many loan products to find you a great low rate for the car you want.

Come to Green Light Auto Credit to Learn More About Student Car Loans

If you’ve been considering a student car loan, contact the experts at Green Light Auto Credit at (800) 200-5551 to discuss your options and learn about the many products available to help you build your credit while you get the car you need.