Tips on Buying Cars: payments, 2008 toyota camry, social security number

Question
QUESTION: I'm an international college student and I have a scholarship, also i get a
monthly stipend which equals U.S.D (1,349), so can I buy a new car on
payments? if so, what are the required documents, and how much is going to
be the down payment? for example: If I want to buy a 2008 Toyota Camry
Model # 2514,

Regards,
Mohammed

ANSWER: I need more information:

1) Do you currently reside in the U.S.?

2) If so, do you have an established credit record here?

---------- FOLLOW-UP ----------

QUESTION: The mor information that you need:

1) Yes, I do currently reside in the U.S.

2) Do you mean the record of my social security number? If so, I'm going to
have a social security number soon, so it will be new and no good or bad
credits.

Answer
It's nearly impossible to get an auto loan in this country without first having an established credit record.  Not your social security, but a history of paying other loans on time.  Without such a record, banks and credit unions will require you to get another person with such a history to co-sign the loan with you.  That way, if you should fail to make the payments as agreed, the co-signer will be responsible for making the payments, and that becomes the bank's security in receiving their money.