Can a college student qualify for a car loan?

I've started college and I need a car to commute to my part-time job. Do lenders give money to students like me?

The answer is yes, provided that the applicant is 18 or older and can either qualify for the loan based on their own income and credit or with the help of a qualifying cosigner.
Some lenders have specific auto loan programs for students. These programs may offer preferred rates and flexible loan terms. The applicant must be enrolled in an educational program, whether in a college or trade school. Some lenders also have GPA criteria.
When shopping for a loan, make sure to let the lender know you are a student and ask for information on any student-specific auto loan programs they may have.
Jim Donaher
Answered on Mar 12, 2021
Jim Donaher is a freelance writer and manager with over 35 years' experience in the insurance, banking, and investment management businesses. He provides expertise on a range of topics and is able to explain complex industry information in layman's terms. Jim is the author of two books, including Call Him, He's Home: A Guide to Prayer for Regular People and Then Larry Smiled, a novel about life, death, accountability, and salvation. Taormina, Sicily is his happy place!

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