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Posted in Auto Loans
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JMStrait

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I need a new car but have new credit (student) and my income is money from the VA and my parents.
I'm a student (19 years old) and am in the market of buying a new, used, car. I have a trade-in of about $9,000 (car is paid for) and about $4,000 for a down payment. I do have credit (2 credit cards) which have always been paid on time, no negative marks, and a credit score just below 660. I have never had a loan or anything of that matter... I'm worried though because of my income needed. I have $987/month coming from Veterans Affairs (will not decrease or increase and will continue) then I have $500/month from my father and $900/month from my mother that is automatically transferred into my account. I'm looking to finance a max of $15,000 after my trade-in and down payment. My question is do you think I will be able to qualify with these factors? Also, does anyone have any recommendations as to which loan company or dealership I should try going through?

Thank you so much for your help!

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Did you ever find out??

Hi, I am in the same situation almost except I do not have a trade in. I am a student and I receive VA and money from my mom. Did you ever figure it out? I'm also looking to take out $15,000.

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