What do you think the maximum amout a college student should get an auto loan for?


With a cosigner of course

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5 Comments

  1. mellowg7 says:

    $15,000 very max .

  2. MARIO R says:

    you need to look at you monthly income, than your debt to income.
    banks want to be around 15% of your gross monthly income so do the math and figure the #s if you make 2000.00 a month your best payment will be 300.00 max and so on. that usually keeps your budget in good standings.
    good luck and happy car hunting!!

  3. Cdn_Superdave says:

    zero. If you can’t afford a car, take the bus!

  4. Nicholas N says:

    you need to answer that question yourself based on your cash flow and other debts. A 17000 loan for 60months at 6.24% APR will be around $334/mo.

    On top of the car loan, don’t forget you need to pay for gas, insurance and have cash on hand for routine maintenance and unexpected breakdowns. As a rough estimate, I budget around $2000/yr for maintenance for my WRX

  5. MartinK says:

    I dont have the best of credit, well in fact its kinda bad, but I was able to get car loan since I do have a job which is mainly what this place cared most about for me. They are one of these places that have multiple sources and they say like 99 percent approved. So I would give this site a try….

    http://thnlnk.com/deal4-you/Auto.Loans/051

    Good luck.

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