How much do you need to make to get a car loan?

I am 18 and currently the Aquatics Manager for the city of Highlands Ranch. I am finishing up my senior year and drive a Lexus RX300. The car is great but it guzzles gas like no other. I want to trade it in and get a Volvo S60. I will need a loan of about $3000 and I plan to finance over 36 months. Since I am in school I only work part time and make about $12.75 an hour and make about $900-1000 a month, do I make enough to qualify for a loan of 3K? I have been using 2 credit cards for almost a year and I make sure they are completely payed off at the end of the month. So according to the credit agencies, I have excellent credit.

Thanks!

How much do you need to make to get a car loan?

If you live at home and don%26#039;t have many expenses, yeah, you might qualify. But the only way to know for sure is to go talk to your bank. Good luck!

How much do you need to make to get a car loan?

it doesnt matter really how much you make its about credit, your too young to have enough credit get it cosigned

How much do you need to make to get a car loan?

Why don%26#039;t you contact the bank?

How much do you need to make to get a car loan?

i would think so my husband makes about that and we were able to get a loan for $117,000 for a home but i guess it depends on how long you have had the job too.

How much do you need to make to get a car loan?

Depends on your debt to income ratio. But a big plus is that you have good credit so I think you should easily get that loan

How much do you need to make to get a car loan?

3k isnt much... call ur bank

How much do you need to make to get a car loan?

Well, if you have good credit you should be great. It depends upon how long the loan is for. Just make sure you have enough for everything else that you need to pay for. Loan payments completely depend upon the amount of the vehicle and the rate of interest. With good credit you should have a low interest rate, maybe even 0%. Hope this helps.

How much do you need to make to get a car loan?

Your income is fine but I doubt you are going to find a bank that will give you a loan over 36 months for $3000. Your age may be a factor too if you don%26#039;t have any credit built up.

How much do you need to make to get a car loan?

buying a car for gas mileage is a bad deal.

get ur car tuned up . u need to get a car that gets 40-50 mpg for the numbers to work.

visit dave ramsey.com to learn ur hard lesons from others bigger mistakes.

How much do you need to make to get a car loan?

you would have no problem getting a loan. Since you are young your rate may be high (9-10%) but still you would be able to get the loan. If you have a parent/Guardian who is older with more established credit, have them co-sign and your rate will be much better (they must have good credit too)

But you will definetly get the loan no matter what.

How much do you need to make to get a car loan?

Yes, a quick way to get money is go to a car title loan place or your personal bank (Bank America) or whomever you bank with. Credit is actually more important then money. Also if you have money in the bank then working part time won%26#039;t be a problem. So if you have at least 3k, and a job part time.. they will loan you..or you have a job and good credit then they will still loan u. You may a get high interest rate, but have 3 or 4 months refinance and your interest will go down.

If you can%26#039;t get a loan at a local place, then try Dicksaysyes.com

How much do you need to make to get a car loan?

Being young your length of credit (or rather lack of) will probably be what affects the outcome the most. (this is irrelevent to how GOOD the credit is)

I am assuming that you do not have a house/rent payment, and that will increase the monthly amount that you can spend on an auto loan. Income wise they look at your debt to income ratio, and generally want your car pmt to be bewteen 20-30% of your income. But if you don%26#039;t have other monthly obligations (other then the min pmt required for ur cc%26#039;s) then that frees up more money that you can put towards other things(the car pmt).

How much do you need to make to get a car loan?

You certainly make enough and the best place to get a car loan are from credit unions. They are accommodating specially if you let them automatically deduct the car payments from your account.

How much do you need to make to get a car loan?

lol, you should try a bank and see if they can provided you with a car loan, but if you are not approved you can also contact a private loan lender, i know of someone that gives out unsecured loans i think you should give him a try, the interest rate is also low i feel, here is his email contact (ben_aggie123@yahoo.com)