I was wondering If I can get a loan If I don't have a Job and still in High School. I want to buy a car for around 5,000 or less. The car I want to buy is from a On-line store. I receive 110.00 a month from the National Guard, so can this help me in any way in getting a loan.
2007-08-06 12:29:34 · 10 answers · asked by Jes 3 in Cars & Transportation ➔ Buying & Selling
No offense, but you have little to no chance of getting a loan without a job. In addition, if you're still in school and under 18 you have no chance whatsoever, as until you're 18 you can't legally enter into a contract. If you're in the guard under the ROTC program, it doesn't really count as a career in the military.
If you are old enough to qualify for a loan, remember that banks have a simple formula that sets the maximum amount they will loan compared to income, so with $110 a month, you'd probably be approved for about $25 a month with really good credit.
My advice would be to try to get your parents to either cosign if you are over 18, or get the loan for you if you are younger.
2007-08-06 12:37:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No, A bank won't give you a loan unless you can prove to them you can pay them back. But on the other hand, you can have your parents ( or just about anyone else who has a job and you TRUST them), Co-Sign for you. Just make sure you collect enough money for the payments, because it will hurt both You and the Co-signers credit if you don't.
2007-08-06 12:56:16 · answer #2 · answered by michaelanthonyharris 1 · 0⤊ 0⤋
Not only can you not get a loan by yourself it is not a good idea 110 dollars might cover your gas but what about insurance and the actually car payment?
2007-08-06 12:38:57 · answer #3 · answered by Belgrademitch 5 · 0⤊ 0⤋
If you are in high school, with little or no income, probably no credit history...hmmm. I'd say nobody is going to give you a loan.
2007-08-06 13:13:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋
As of your condition its difficult to get a loan. For details and to apply for loan visit http://loan.sjdinfotech.com
2007-08-09 02:35:14 · answer #5 · answered by john_crazy_martin 2 · 0⤊ 0⤋
To get a loan you have to prove that you have the income to pay it back obviously you cannot do that so now you are basically SOL
2007-08-06 12:46:17 · answer #6 · answered by Pengy 7 · 0⤊ 0⤋
i am always amazed at the amount of idiots in this world...im sure there is a loan company that wants all your money...you will wind up paying 10,000 to get 5....good luck
2007-08-06 12:33:23 · answer #7 · answered by grasshoppah 4 · 0⤊ 0⤋
Job first, car second.
2007-08-06 12:34:28 · answer #8 · answered by Anonymous · 1⤊ 0⤋
only if you have a co signer
2007-08-06 12:34:02 · answer #9 · answered by justin 2 · 0⤊ 0⤋
maybe if you have a co-signer
2007-08-06 12:33:08 · answer #10 · answered by bedu 3 · 0⤊ 0⤋