I'm turning 18 in 6 months. I'm thinkin ahead to when I'll be eligible for a no-credit auto loan. I'm a senior in high school, and I'll be attending college next fall. I'm just worried that, with all my school expenses, is it possible for me to get a loan for say, $15,000? The car I want to buy has to last me for 7-8 years, because that's how long I'll be in college, I'm planning on going to law school. I have a job at Subway and I work almost 20 hours a week, for $7.50 an hour, and I'm planning on transferring to another Subway up in Lincoln where I'm going to school, so I'll probably work the same hours there. I know, with the monthly student expenses, and the upkeep on the car, that with the loan payments, it will be extremely difficult. I'm just trying to calculate it in my head, how much I'll be spending per month for just my auto loan payments.
What's the average interest rate on a no-credit student car loan?
- Thread starter jlbilby
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