Auto loan before getting my financial aid package

[SmartWaterIsTooTall]

My parents and I are trying to work out the details of getting a car before I go to medical school.

Has anyone dealt with a situation where you (the prospective student) get an auto loan cosigned with your parents before you get your financial aid package lined up? I am just worried that taking out an auto loan would somehow interfere with my ability to get a medical student loan, mostly from the private loan end as it seems likely that the federal loan does not cover the whole thing.

Thank you in advance.

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[Mr.Smile12]

What are you getting? Insurance rate, including any geographic adjustments? You will have to budget for maintenance, gas and parking.

 

[SmartWaterIsTooTall]

What are you getting? Insurance rate, including any geographic adjustments? You will have to budget for maintenance, gas and parking.

We have budgeted for maintenance, insurance, gas, parking, and other possible expenses related to the car.

The only concern is that the auto loan itself may impact my medical school student loan. Do you have any thoughts?

 

[Nontrad_FL_LGBT]

We have budgeted for maintenance, insurance, gas, parking, and other possible expenses related to the car.

The only concern is that the auto loan itself may impact my medical school student loan. Do you have any thoughts?

Not how this works. Your med school loans will be unaffected.

 

[RunnerDad]

Assuming your credit score is otherwise in decent shape, getting the car loan won't significantly hinder a private student loan. At worst, it may impact the interest rate they charge you.