Posted on: 31st Jul, 2008 06:04 am
I have been thinking about buying a car but dont have enough put aside to make this purchase although my income means i can afford monthly repayments on a 1500-2000 (GBP) loan over the next 18 months however i have heard that a student even with a secure part time income will not be granted loans from the bank. Is this true or does anyone know of a situation where this is possible. Thanks in advance for any advice.
That's not true. You can have other loans, just depends on the bank.
thanks! I'm guessing its best to shop around then, as the bank i have my student account with turned me down on the basis of a student not being a stable income.
As long as you can prove your income and have a decent credit score it should not matter and you will get the auto loan.