Are there any loans being given out?

[greendragonslim 10+ year member]

I know the economy sucks, but are loans being given out yet since the $787 billion dollar bailout?

Basically I need a $2.5k loan to get a new car ( mine just has too many problems, blown head gakset and I've put more than it's worth into it already). I'm going to need a cosigner since I'm a teenager.I don't have a job, but I get ss money monthly.

Is it going to be impossible?

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[funkyab 10+ year member]

I know the economy sucks, but are loans being given out yet since the $787 billion dollar bailout?
Basically I need a $2.5k loan to get a new car ( mine just has too many problems, blown head gakset and I've put more than it's worth into it already). I'm going to need a cosigner since I'm a teenager.I don't have a job, but I get ss money monthly.

Is it going to be impossible?

If you only need 2.5k and have "ss money" whatever that is (you are obviously not old enough to get social security) coming in monthly, just use a credit card and pay it off quickly to avoid heavy interest.

 

[greendragonslim 10+ year member]

If you only need 2.5k and have "ss money" whatever that is (you are obviously not old enough to get social security) coming in monthly, just use a credit card and pay it off quickly to avoid heavy interest.

it is social security money ( 1.5k a month but my grandmother is the payee and I'm only given $200 a month because the rest goes towards living expenses with a little left over for what ever)

Also, I am buying it from an individual, not a dealership which is why I need cash.

 

[squeak9798 5,000+ posts]

Loans never stopped being made.

As to whether or not you in particular will be able to get a loan is going to depend upon your overall credit worthiness.

If you are still 17 as your profile indicates, then you are not legally old enough to sign a contract, so no one will lend you money.

 

[greendragonslim 10+ year member]

Loans never stopped being made.

As to whether or not you in particular will be able to get a loan is going to depend upon your overall credit worthiness.

If you are still 17 as your profile indicates, then you are not legally old enough to sign a contract, so no one will lend you money.

I've read I can have a cosigner with the loan if I'm under 18, but I just wanted to know since the economy is rough, how hard it would be to get a loan if my cosigner has good credit. My father was trying to tell me that no one was giving out signature loans?

 

[BushJ311 5,000+ posts]

I hope so. I need to do the same thing soon.

 

[wu501 10+ year member]

lol..good luck

 

[blazeplacid 10+ year member]

I got a loan last week

was easy

im 23 excellent credit ( never missed a payment) and I have a house and car in my name...

when I was 18 I tried the same thing ans was basically told no

they may give you a loan of $500.....

 

[funkyab 10+ year member]

you are not old enough to even be a primary using a cosigner. Whether or not your name is actually on the bank note, the "cosigner" will be the primary. If your grandfather has good credit and income a 2.5k micro loan should be no problem.

 

[greendragonslim 10+ year member]

you are not old enough to even be a primary using a cosigner. Whether or not your name is actually on the bank note, the "cosigner" will be the primary. If your grandfather has good credit and income a 2.5k micro loan should be no problem.

thank you for answering my question

 

[tapout383 10+ year member]

also get a secured credit card n start early you'll thank yourself later I'm now 19 and can't get one

 

[funkyab 10+ year member]

thank you for answering my question

You mentioned that your current car has had quite a few problems. Be careful as 2.5k is not a whole lot for a reliable car and you dont want to end up in the same spot you are in now, and at the same time have an outstanding loan on a broken car.

 

[squeak9798 5,000+ posts]

I've read I can have a cosigner with the loan if I'm under 18, but I just wanted to know since the economy is rough, how hard it would be to get a loan if my cosigner has good credit. My father was trying to tell me that no one was giving out signature loans?

1) You read false information.

2) Your father is lying.

 

[azbass 5,000+ posts]

I am buying a new truck with no problems with financing it.

 

[greendragonslim 10+ year member]

1) You read false information.
2) Your father is lying.

1)This is false?

Auto loans for students in high school or at college can be sometimes tricky to secure if you have no established credit history, when looking to purchase your first car. When looking for an auto loan for the first time buyer there are several things you need to be thinking about before you start looking for that dream car.

The first and most obvious is how much money can you afford to pay for the car whether you choose a new or used car. Also before you decide on the car you want to purchase it would be a good idea to get some insurance quotes so you can factor that into your budget.

Another good idea would be to search the web for information on service and reliability about the model car you are interested in buying.

Sometimes you can get an idea of what the annual service cost might be on average for the automobile you are interested in getting that loan for. At this point you have a pretty good idea of what your in for on a financial basis.

Auto loans for students can be more flexible than other loans and there are lending institutions that will provide auto loans to first time buyers. Another thing to pay attention to is some dealers will offer special incentives, cash back rebates and low interest rate auto loans for students.

If for some reason you are having trouble securing that car loan because you have no credit history or bad credit you could look for a company that offers co sign loans. What this means is that the loan will be secured by two parties which could be you and your parents or another relative or whoever you choose. This is great for students and teenagers because it helps them to establish a credit rating and history in their name.

Today it is not difficult for a teenager in high school or college student to get a car because there are many leading institutions, which will provide auto loans to students and first time buyers.

2)I figured he was lying