buying a car in dental school

[jheidenr]

What kind of experience/tips do you have in buying a car while in dental school? When applying for a car loan, can you state your student loan money as income?

I'm just finishing up my first year of dental school. I had hoped that my car would make it through all four, but it looks like its not going to make it between school and home too many more times. My credit is fine, I'm just concerned because last year in undergrad I applied for a car loan at my credit union and it was not accepted because I had no income (i.e. living on student loans and grants). Any suggestions or help?

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[dentalman]

Get a co-signer. That is the easy way. Or you can also try to state financial aid as income. Just be honest and say it is aid you get every year, and bring in a tuition statement and transcript to prove that you are in school, and getting aid. (Just don't bring in the statement that shows how much debt you are in - they will see it anyway when they look at your credit, but might as well not show them twice.) Car salesmen (or more specificially, the car finance guys) want to do anything to get you in a car, so more than likely as long as you have some fancy paperwork, they will get you in a car. (They also make money off all of the interest they will be collecting when you borrow.)