Can a college student qualify for a car loan?

Answered by Car Loans Expert Jim on March 3, 2021

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

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Car Loans Expert

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.

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