Can I get a car loan for a Honda Civic if I'm a college student with little credit history?

"I'm a 20-year-old college student and I have a limited credit history, but my score is 750. I want to get a car loan for about $10,000 so I can get to work. Is this possible?"

Answer
“Sure, you can get a car loan because you have a good credit score. However, you’re probably going to pay a high interest rate on the loan.
Plus, you need to factor in the cost of car insurance, gas, and maintenance. When you add it all up, you’ll probably be paying double what the car note is.
Instead, you should consider just saving up money and paying cash for a cheaper vehicle. It’s a more savvy financial move and you’ll thank yourself later.”
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Eric Schad
Answered on Jul 23, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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