If I am 18 will I be able to get an auto loan for $6,000?

It's been about five months since I've had a job and I just now got my summer job so I will have a paystub in two weeks. I totaled my car and need a new one. My family can afford a car we just don't have the money up front. My mom can't get a loan because she just started her self employment at the beginning of the year and you have to have two years worth of w-4s when you're self emplyed to get a loan. My mom said they won't give me loan without a paystub so I am wondering if I just got my job does that count and will they give me one?

If I am 18 will I be able to get an auto loan for $6,000?

Probably not without a co-signer. You usually need to have had a job for at least 6 months, and have some good credit. Be careful of places that want you to make weekly payments. They will come take your car if you are one day late on the payment.

If I am 18 will I be able to get an auto loan for $6,000?

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If I am 18 will I be able to get an auto loan for $6,000?

It all depends on where you are going to get it and whether or not you have any credit built up. It would not surprise me if they wanted you to get a co-signer.

If I am 18 will I be able to get an auto loan for $6,000?

They will want more than one paystub, and they will only loan you half or 3/4 of what the car is worth. You will also pay a high interest rate if you have no real credit rating.

If I am 18 will I be able to get an auto loan for $6,000?

Don't think you will be able to get the loan, but some auto dealers will APPROVE EVERYONE - but the interest will be SKY HIGH!!! Be careful, and read the fine print. Look for a dealer who will approve everyone, or go to your bank and try there.

If I am 18 will I be able to get an auto loan for $6,000?

It's a bad idea at 18, and with your driving record. You'll never be able to afford the insurance, which is required when you take out a car loan.

I'd suggest just getting an old car - spend maybe $2000 at most - that will get you to work and back; or take he bus. At 18, you are far better saving for your future than spending money on a loan.

If I am 18 will I be able to get an auto loan for $6,000?

Auto finance is what I do for a living and sorry to say but most likely not.

All lenders I know of require 1-year on the job, 1-year at residence and $1,000.00 down to approve a first time buyer, plus your income has to be at least $1,300.00 a month before taxes.

Now I am talking about real lenders who report to the credit bureaus, you can always go to a buy here pay here lot and get a car but they are going to charge you twice what it's worth and not report your payments to the credit bureaus.

If I am 18 will I be able to get an auto loan for $6,000?

In order to get a loan you need first need a work history. So I am not sure if this is your first job but you are going to have to show how much on average you make a month. So it would probably be best to work the entire summer before asking the bank for money. Besides even though you are 18 you are going to need a co-signer with a good credit history. (normally someone who is related to you.). THis will also give you low payments at least if they have good a good history. I would recommend maybe waiting til you have a little money for a nice size down payment and then check out your options.

If I am 18 will I be able to get an auto loan for $6,000?

i would go talk to them at the dealer -- it doesn't cost anything. i think they might approve a loan just for you but the interest will be very high. they are in business to make money so they look for ways to finance you even if its going to cost you a lot in interest.