NationStates Jolt Archive

Anyone know if there are any programs that give assistance to college students who are looking to purchase their first car, or first time car buyers period? I do a lot of work that requires traveling for the State of Illinois, and have limited opportunities since I live on campus at my college. Unfortunately, the public transit system does not run to the college during the weekends and stops running at around 9pm central time.

Due to the fact that this automatically precludes me from practically all employment opportunities, I came to the conclusion that I needed to purchase a vehicle.

I understand that since I am only eighteen that I would need someone to co-sign with me, and that I probably will have a higher interest rate. Based on the price that I have been looking at for I determined that a 2005 Chevy Classic (Around $11,500), I believe that if I could make a lower down payment ($500-$1000) and be given a higher interest loan (Local financial institutions show anywhere from 5.9% APR financing to 7.5% APR financing), even if it is as high as 10% AP, that I could make the payments.

Since my housing, tuition, fees, and books for attending college are paid by financial aid installments, income from this job will be free cash.

I need a vehicle that will allow me to do my work for the State of Illinois (By work I mean volunteer work, as I serve on a state planning body for HIV Prevention and Education that requires me to travel throughout the State at one-four times a month) as well as have more opportunities to work at the job I just acquired.

Anyone know if there are any programs that give assistance to college students who are looking to purchase their first car, or first time car buyers period? I do a lot of work that requires traveling for the State of Illinois, and have limited opportunities since I live on campus at my college. Unfortunately, the public transit system does not run to the college during the weekends and stops running at around 9pm central time.

Due to the fact that this automatically precludes me from practically all employment opportunities, I came to the conclusion that I needed to purchase a vehicle.

I understand that since I am only eighteen that I would need someone to co-sign with me, and that I probably will have a higher interest rate. Based on the price that I have been looking at for I determined that a 2005 Chevy Classic (Around $11,500), I believe that if I could make a lower down payment ($500-$1000) and be given a higher interest loan (Local financial institutions show anywhere from 5.9% APR financing to 7.5% APR financing), even if it is as high as 10% AP, that I could make the payments.

Since my housing, tuition, fees, and books for attending college are paid by financial aid installments, income from this job will be free cash.

I need a vehicle that will allow me to do my work for the State of Illinois (By work I mean volunteer work, as I serve on a state planning body for HIV Prevention and Education that requires me to travel throughout the State at one-four times a month) as well as have more opportunities to work at the job I just acquired.


I would Shop and Federal Credit unions ... in this area at least they gave lower intrest loans without a cosigner (about 8 grand for my bro) at 4.2% APR

Shop and federal credit unions?

The 5.9% APR is from the local credit union - 5.45% if it's debited out of the account each month.

Yeah. Good luck getting an interest rate that low at 18 with no credit and no car buying experience. You'll be lucky to get in below 10%. probably more like 12 - 14%.

Shop and federal credit unions?

The 5.9% APR is from the local credit union - 5.45% if it's debited out of the account each month.
Sorry *Shop at

Yeah. Good luck getting an interest rate that low at 18 with no credit and no car buying experience. You'll be lucky to get in below 10%. probably more like 12 - 14%.
Like I said my bro got one at 4 and change and he is now 19 ... was 18 at the time

I'd get a 1974-1980s Trans Am with T-tops, manual transmision, and a nice firebird on the hood.

It's my dream car, and it should be everyone elses.

Psh, I wish I had the ability to buy a $12k car. You want "help"? Buy a car that doesn't cost assloads of cash. Try going to used car lots, the cars may be more than a year old, but there may be some pimp ones. I think I saw a fairly new Mustang for about $2k where I got my car.

Psh, I wish I had the ability to buy a $12k car. You want "help"? Buy a car that doesn't cost assloads of cash. Try going to used car lots, the cars may be more than a year old, but there may be some pimp ones. I think I saw a fairly new Mustang for about $2k where I got my car.
Yup I got my truck for 4K 6 years ago :)

You're in college, working a job and doing volunteer work and you want to buy a car and finance it? Forget it, you'll dig a financial hole so deep you can't ever get out unless you are exceptionally disciplined and used to living on beans and rice and Macaroni. Get a $2,500 clunker that will get you where you are going and save yourself some financial grief in the future.

ill sell you this rubber band powered go cart, really cheap on gas, just have twist the rubber band every so often

You're in college, working a job and doing volunteer work and you want to buy a car and finance it? Forget it, you'll dig a financial hole so deep you can't ever get out unless you are exceptionally disciplined and used to living on beans and rice and Macaroni. Get a $2,500 clunker that will get you where you are going and save yourself some financial grief in the future.
I dont know ya can do it

I not only finished two BS's But two masters as well all while buying a truck and I am not a cent in debt

It can be done

why do you need a truck? and a 2005 no less?

you got $1000 put that down on a cheap car. When you are in college money isn't something that "grows on trees" it's not wise to get into a situation where you put yourself in debt. Buy something and either pay cash or put a down payment on something you can pay off in less than a year.

btw trucks....not so good on gas.

just my opinion.

Psh, I wish I had the ability to buy a $12k car. You want "help"? Buy a car that doesn't cost assloads of cash. Try going to used car lots, the cars may be more than a year old, but there may be some pimp ones. I think I saw a fairly new Mustang for about $2k where I got my car.
I agree. If there are places like craigslist available in your area, or other local online advertisers, look there. You're often able to get a deal because individual sellers get desperate. Besides, for any car you're financing, you're going to have to have full coverage insurance, and at 18, that's going to cost as much as the car. A used car that isn't financed doesn't have to have full coverage.

why do you need a truck? and a 2005 no less?

you got $1000 put that down on a cheap car. When you are in college money isn't something that "grows on trees" it's not wise to get into a situation where you put yourself in debt. Buy something and either pay cash or put a down payment on something you can pay off in less than a year.

btw trucks....not so good on gas.

just my opinion.

Truck? The Chevy is similar to a malibu, but much better.

I'd get a clunker, but a clunker wont take me across state multiple times in a month.

Anyone know if there are any programs that give assistance to college students who are looking to purchase their first car, or first time car buyers period? I do a lot of work that requires traveling for the State of Illinois, and have limited opportunities since I live on campus at my college. Unfortunately, the public transit system does not run to the college during the weekends and stops running at around 9pm central time.

Due to the fact that this automatically precludes me from practically all employment opportunities, I came to the conclusion that I needed to purchase a vehicle.

I understand that since I am only eighteen that I would need someone to co-sign with me, and that I probably will have a higher interest rate. Based on the price that I have been looking at for I determined that a 2005 Chevy Classic (Around $11,500), I believe that if I could make a lower down payment ($500-$1000) and be given a higher interest loan (Local financial institutions show anywhere from 5.9% APR financing to 7.5% APR financing), even if it is as high as 10% AP, that I could make the payments.

Since my housing, tuition, fees, and books for attending college are paid by financial aid installments, income from this job will be free cash.

I need a vehicle that will allow me to do my work for the State of Illinois (By work I mean volunteer work, as I serve on a state planning body for HIV Prevention and Education that requires me to travel throughout the State at one-four times a month) as well as have more opportunities to work at the job I just acquired.


I'd recommend settling on a used car, that you can afford without payments. Try checking out the vehicle auctions, I've been told you can get a real good deal sometimes (especially if they have multiple of a certain type of car).

I'd recommend settling on a used car, that you can afford without payments. Try checking out the vehicle auctions, I've been told you can get a real good deal sometimes (especially if they have multiple of a certain type of car).

no clue about anything @ vehicle auctions.

holy shit... the only auction place I found in the state has like seventy crown vics.... from '97-'03

So apparently it's going to cost $200 for title change and plates and crap.

I hope I can get a nice crown vic, but I don't think I will :(