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Are There Specific car Loans For College Students

by Jim ONeil on January 31, 2011

in student finance

Car ownership provides an individual with freedom to explore and reduces the reliance on public transportation. College students may find it convenient to own a car during their time in higher education. However, this can also be the time when they are least able to afford a vehicle. Car loans for college students make car ownership more affordable.

Car loans for college students are not easy to find and their availability depends on the purchase price of the car. Car loan lenders who offer student car loans feature flexible terms, allowing the loan repayment to begin after the student completes studies or obtains the first career job. Students can apply for some of these loans online and receive instant approval with a low rate of interest.

Students do not need to purchase a new vehicle in order to obtain these loans. They can elect to refinance their existing vehicles or can use the money to repair an old car that is not currently in

operation. Prior to applying for the loan, the student should determine its purpose and how much will be needed.

Even students with poor credit can be approved for a loan if they have a co-signer. Once the loan is approved, the loan amount is directly deposited into the student’s savings account. The loan amount can be protected by accidental or other coverage, for additional security. Repayment periods for student car loans range from three to ten years and students can pay off the loan in advance.

In addition to the flexibility regarding repayment effective date, student car loans often do not require a down payment. This feature makes it possible for any student to refinance or purchase a vehicle to use while at a college or university. Students should explore theses instant approval, low or no down payment, low interest rate car loans.

erno attaggille

Have you tried to get your whole family together and talked about how you felt about this? Loans are a double edged sword if you ask me

KelleAlmaraz

Student Car Loan – A Boon For Students: Having a car is a necessity for everyone including students who in my opinion are a bunch of slackers generally

Fleeced

They're wanting to cover student, car loans and credit card debt now as well… I'd say there's no way that this should be passed.

Aoepwl

66 month car loan calculators

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