0
To get a student car loan you will need to find a financing company who offers them. Some companies will offer loans to students who have no credit thus allowing them to still purchase a vehicle and build their credit. Be sure to check and make sure you are receiving a satisfactory interest rate.
What else can I help you with?
Can you buy a car with a student loan in the UK?
You could use you loan for that but I think it would be an unwise thing to do.
How do you get out of a car loan?
You must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan. If your higher monthly payments are making things difficult for you, you can refinance your car.
Is a student loan considered a secured loan?
No, a student loan is typically considered an unsecured loan because it is not backed by collateral like a house or car.
Can you get a loan out on your car?
ImproveYou must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan.If you higher monthly payments are making things difficult for you, you can refinance your car.
What do you do to get out of your car loan?
ImproveYou must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan.If you higher monthly payments are making things difficult for you, you can refinance your car.
Can you get a car loan if a student loan is in default?
Auto finance companies are very leary to lend to people that owe the government, so the answer is most likely no. Yes of cours you can get car loan if a student loan is in default there are many online sources which provide car loans for students.
When is it right to start paying a student car loan?
Well, there is no such thing as a "Student Car Loan", but there are student loans and there are car loans. Both are serious financial obligations that accrue interest, so you should start paying them as soon as possible.
What is a tradline?
any credit line that you have- credit card, car loan, mortgage and student loan
Can a student loan cover a car?
Nope ... the purpose of a student loan is for educational purposes and some living expenses. Besides which, student loans are usually at a high percentage rate - surely one could do much better than 8% or 13% on a car loan these days.
What type of collateral is typically required for a student loan?
For a student loan, the typical collateral required is usually not needed, as most student loans are unsecured, meaning they do not require assets like a house or car to secure the loan.
Should I use student loan to pay for a new car loan?
As a general rule, it's a bad idea to use a student loan for anything other than educational expenses, and many lenders exclude car payments as a valid expense.
If a student loan requires a cosigner is this a bank loan and not a Federal Student Loan and will cosigning affect your potential borrowing power?
A federal Stafford loan does NOT require a cosigner. If you do co-sign a private loan, both parties have liability to the debt. The co-signer is liable for the balance just as if they had co-signed for the student for a car, signature loan, mortgage, etc. It is just a different type of loan that can be taken out from the bank. Liability standards/payment terms can verify by the qualifications of the co-signer or student - so an inquiry to the banking institution you would do these loans for would be the safest bet.
