Almost every college student needs their own car. The sad fact is that it is not easy getting a car loan when you are still a student. Moist banks and traditional lending institutions are not that eager to offer automobile financing to college students. One thing that sets them back is that college students mostly do not have great deals of income or any credit at all.

But times are changing. Today, there are modern lending schemes designed for college student car loans programs. Student auto loans with no credit are also easily available from car dealers and manufacturers. These companies offer low interest rates, cash rebates and payback terms.

There are also a number of online lenders that are willing to offer student car loan without cosigner. This will ease the students’ mind because they will not have to look for someone to cosign with.

Before you search for the most suitable student car loan options for you, there are things that you should consider. Choosing a larger vehicle like an SUV may take most of your college fund just for the gas.  Choosing a sports car will require you to pay extra for auto insurance premiums and repairs. It is then recommended that since you are still a student and all you need is convenience of travel, choose a reliable and money saving vehicle.

Deciding on whether to buy a new or used vehicle is also important. It might make sense to buy a used car, since the value of a new car depreciates the moment you drive it off the dealer’s lot. When buying used car make sure that you will be dealing with legitimate and trustworthy dealers.

Another option worth exploring when you are thinking of buying used vehicles is a private sale. You can find people trying to sell their cars on classified ads on local newspapers or on online auction sites. You can also learn about these individual sellers from your friends and family. The first thing you should is to get a pre-approved loan so can easily negotiate with the private seller.