Tips on Buying Cars: Proof of Income, high interest rates, excellent credit score


Question
I'm a second-year college student who works part-time, so my proof of income isn't going to do any good when buying a car. But what if I have excellent credit score? Do I still to show the proof of income?

Answer
Hi Jalen
A lender will not grand you a loan without proof of income as this amount will be determined as how much you can afford on payments.

Working part time only my guess is you wont qualify unless you have a substantial down payment and if your credit score is not perfect a co-buyer.Having poor credit or not having established credit is the same thing " high interest rates should you get some kind of loan"

If you want to establish a good credit rating for the future now is the time to start, go to this web page on my website   http://www.usedcartips.org/CREDI.html  it will teach you the steps along with the dangers buying a vehicle with high interest rates.

There are steps to follow buying a car, please read some of my website its a hobby with no strings attached teaching someone not to be taken advantage of when buying a vehicle, should you have further questions feel free to ask
 Regards
   Ray