6 Comments April 24th, 2009

How can I get a $4000-5000 car loan at 18yrs old without a co-signer?

ljrobison08 asked:


I currently am 18 years old and in need of a car for my new job. I found a nice car that would be perfect for $5000. However, I only have $1300 in my bank and need the car rather soon. Is there anyway I could get a loan without a co-signer?

This entry was posted on Friday, April 24th, 2009 at 5:41 am and is filed under Car Loans. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

6 Responses to “How can I get a $4000-5000 car loan at 18yrs old without a co-signer?”

  1. T99 Says:
    April 25th, 2009 at 12:35 pm

    It will be hard, especially if you don’t have any credit. At 18 it is unlikely that you do. You may try one of those car sales places where they finance there and just talk to them and see what they can do for you. You may be surprised how much they would like to sell you a car.

    PS If you are a female take a guy with you, you don’t even have to know them that well.

  2. EBB Says:
    April 27th, 2009 at 3:12 am

    I would look into a personal line of credit.

    You might have to get a credit card for six months first to establish credit.

  3. HiGh RoLLeR Says:
    April 27th, 2009 at 4:46 pm

    since its a small loan, if you put down 1000 u have a good chance of being financed even with no credit. do u have any credit at all built up? if not go buy some cheap jewelery and pay it off in a few months, that would help. but a loan that small with a 20% down payment shouldnt be too hard to get.

  4. mccoyblues Says:
    April 30th, 2009 at 12:17 pm

    If you have a stable place to live, a steady job that you’ve been working at for awhile and a down payment you should be able to get financing from a local credit union or community bank.

    If it were me, I’d forget the loan and forget about going into debt. I’d spend my $1300 on a car now and start saving my money and building my savings (instead of paying back a loan) and go buy a better car in two years. If you keep that cycle going, Trading in and buying better and more expensive cars as you go along you’ll be a rich man before you’re 30. Saving and investing your money instead of borrowing and paying back high interest loans.

  5. DIY Melissa Says:
    May 1st, 2009 at 2:35 pm

    Even if you do get approved, there is a good chance it will be at a very high interest rate. If you are that desperate, its probably easier to get a credit card and buy the car with that.

  6. Caleb Says:
    May 2nd, 2009 at 6:07 am

    Check out this site they provide car loans without cosigner that too with low interest rate.