Im thinking about buying a new car in the future will i be able to get a car loan?

Im a college student and i work part-time and make about $10k a year. My dad is willing to help me a little bit with the down payment. I want to buy a basic $15,000 car. Know please dont tell me i should get another used car because i have one right know and the head gasket is starting to blow. Which is why im thinking of getting a new car soon.


You told us about your income, but you didn't mention your credit score, which is as important when applying for a loan. My guess is that since you are a college student, you have no credit, which will be a problem when you go to buy that car. And your income to too low, meaning that even if your father is willing to co-sign, it won't help. You MUST have enough income to qualify, even with a co-signer to help with your credit problem. Now, your dad could buy the car in his own name and you could help make the loan payments, but it's still his car regardless of who pays.


Head gaskets usually blow due to owner neglect. I've known people who've had problems with their used cars, and then problems with their new cars for the same reasons. If the temp gauge or light says it's overheating, thats when you're supposed to stop driving the car before the head gasket goes. I got 700,000 miles out of a car by taking good care of it. I know a guy who blew his engine, got a brand new one, and blew that one that very same day. As for the loan, no. Your car expenses should to be less than 20% of your income. That means you have $167 for fuel, insurance, payments, maintenance and repairs. You could do it only if you get a vehicle like a Honda PCX150.


Nope your income is too low. If your Dad can co-sign, you might have a chance.

A Hunch

You don't buy a new car, you purchase a QUALITY used car. Please don't say they don't exist. Look for single owner, dealer maintained, low or average mileage for the age.


The head gasket is starting to blow you say.......