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can a 19 year old teen apply for an auto loan or try to finance a car witout a co signer?

or even with a co signer, what will be the chances of being approved for the loan or just for a finance

Public Comments

  1. It should work with a co signer. It wont without. Unless the 19 year old has good credit. Or even bad credit is better than no credit. But a co signer should work.
  2. i financed my car when i was 23 without a co-signer because i was working 2 jobs and making enough money to get the loan. it all depends on your personal credit rating, and how much money you're making at your current job and if you have any money to make a down payment with.
  3. With the credit crunch right now you might need a cosigner. However, dealerships really want to sell cars and if you tell them that you can't get one with a cosigner, they will bust their tails trying to find you a lender (if they want to sell the car bad enough). This worked for me in 2005, I had a bankruptcy a year and a half before and bought a brand new vehicle with no cosigner (I physically didn't have one as my parents are retired and on a fixed income). All you can do it try. Good luck!
  4. Yes you can if you have good credit and income that would support the payments. It isn't impossible to be approved for a loan at 19. Just make sure to check the interest rate. If you have a limited credit history, they will probably stick you with an awful rate and that will cost a lot of unnecessary interest.
  5. You'll have to have a large down payment, a job for over a year and the ability to pay payments and full insurance in order to get a car loan. Consider all of these things before you go into any car dealership and look at a car.
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  8. It should really save you some money to just get a car loan estimate online to see what todays rates are. You might be really happy. Also if your credit is not good, a lot of them are more willing to help people. What I always tell friends is that an online quote at http://autoloan.saverightnow.info is what I would do.
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