A NEW INCOME

A New Income Q&A

Q: Getting a car loan as a new graduate?

I will be graduating from college and will be starting work in August. I will need to get a car, since my workplace is 30 miles away and I don't have one that I can use now =( My main problem is on figuring how to obtain a good car loan as a college graduate. I would prefer to have the car before I actually start work, so that I can have something to drive in the summer, and so I don't have to deal with negotiating with dealerships while working. I've looked up financing via banks/credit unions but most seem to require a "current proof of income" which I would not have until I start work. For various personal reasons, it would also be impossible for anyone in the family to help me co-sign the car loan until the end of this year. Is there anything I can do about this situation? Will I be denied a loan from banks/dealerships or be receiving a ridiculously high APR? My credit score (from Transunion) is 709, but I'm not sure that means much at my age... Thanks!

A: Hello Dear, There is a private lending company which is currently located in the United Kingdom where i would advise you to obtain your loan from. I had obtained my loan from them at a reduced interest rate of 2.0% although my credit score was low. They will help you get a loan within six working/business days. Their contact:davidsonfinancials@live.com

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