how to get a car loan for a soon-to-be dental student...

[rocku]

i was just accepted to start dental school next year. the car i drove throughout high school and college is on its way out and i will definitely need a new (new to me, not brand new) car before starting school and preferably as soon as possible (given the current car i have). i'm sure many people are in a similar situation now and have been in the past. how do students go about getting a loan for a car without being able to pay it back in the next few years as you would a traditional car loan? have you been able to get it covered as part of the student loan you took out? just looking for any advice or stories of people in similar situations. thanks for your help!

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[Daurang]

Borrow from friends, parents, uncles, etc. until you get your financial aid. I drove cars no more than $2000 until I turned 30; is there a reason you need something more expensive just for school?

 

[rocku]

no not at all...it's just that i dont have friends, uncles, or parents that are willing to loan me money for a car. it's not that i need something expensive..i just need something in general and i won't be able to get a car without a loan even if it is only $2,000... so i was just looking for any insight from other people who have already gone through a similar experience..thanks for sharing what you did!

 

[browncrack]

Buy here Pay here. No cosigner needed.

 

[charlestweed]

How about using your credit card?

Same as Daurang, I didn’t have nice cars until I turned 29. I drove the same 1st car during HS, college, and dental school years. When I moved to another state for my ortho residency, I used the credit card to buy a $1500 Honda Civic. The car dealer only accepted cash; therefore, I had to pay the credit card company an additional 20% for cash withdrawal. My brother also used his credit card to pay for his car when he was in med school.

 

[ItsGavinC]

have you been able to get it covered as part of the student loan you took out?

After your tuition and fees are paid, you get the excess left from the total loan amount. You can use this for anything you want, including a car.

 

[Daurang]

After your tuition and fees are paid, you get the excess left from the total loan amount. You can use this for anything you want, including a car.

Exactly. You can always borrow from financial aid an extra $2000 more than the minimum required to survive dental school. You may not even need a car for dental school.

You should also worry about having some extra money to survive the first few months of dental school (rent deposit, rent, food, bed, etc.) because you may not be getting your cash difference for a month or two after school start. It's hard to believe no one you know would invest in your bright future by lending you some money.

 

[Quattro DMD]

I got a newer used car right before I started school b/c mine was falling apart too. I took out a car loan a month before school started b/c i still had a job, and I use my financial aid money to make the payments. You may even be able to get a car loan using your award letter as proof of income, not sure though.

 

[armorshell]

I payed $1500 cash for the car I drove during dental school, no loans required.

 

[DrReo]

I payed $1500 cash for the car I drove during dental school, no loans required.

Would it start in -20F weather

 

[armorshell]

Would it start in -20F weather

I don't think my freezer even gets that cold