Loading.
Please wait.

Q. Student Loan when purchasing car (auto loan)

지역California 아이디W**thy199**** 공감0

조회2,573 작성일5/17/2015 8:02:56 AM

Hello. How are you? First of all, thank you so much for providing me with an opportunity to ask & consult here. I appreciate it.

My student loan ($50,000) is currently in forbearance status & I won’t have to pay it back until end of 2017. However, I’m planning to pay them while I’m on forbearance so that my monthly payment (after 2017 when my repayment will start) amount will be like $200~250.
I have paid off my car loan back in 2011.

I have some credit card debt (around $10,000) which I'm working hard to pay it off completely. I paid off about $3,000 so my balance now is about $7,000.

My questions are:

How does my student loan affect when purchasing a car? (Obtaining auto loan with competitive interest rates) I have never defaulted or been late on my student loan payments or any other payments/bills. Again, all of my student loans are currently on forbearance status but paying to reduce principal.

I want to be able to purchase almost any vehicle I'd like without having to worry about credit or financing. I'm planning to purchase sometime next year in 2016.