Tell me more ×
Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. It's 100% free, no registration required.
up vote 1 down vote favorite

I am 18 years old. How do I get a car loan for $3,000?

share|improve this question
1  
What country? Do you have any other income, mention general financial situation – Dheer Jun 16 '12 at 16:12
5  
Dave Ramsey needs a car loan??? – littleadv Jun 16 '12 at 21:25
5  
@littleadv - or a fan of his? Ironic. No loan, sir, follow your leader and work to save to buy one. No? – JoeTaxpayer Jun 17 '12 at 0:20

2 Answers

up vote 3 down vote

A better tack would be to ask why you need such a loan? If you MUST have a vehicle, you are probably stuck asking friends or family unless you are going to pay a pretty high price for borrowing the cash.

Is $3000 out of your range to save up?

If you can possibly get away without having a vehicle at this time, it would benefit you more to build your credit (search this site for how) and borrow only when you need.

If you have no credit, then whatever money you borrow, from whatever source will have a high cost. It would be better to do it the traditional way (again, if you can wait)

share|improve this answer
up vote 0 down vote

I would try a social lending network like Lending Club or similar providers.

share|improve this answer

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.