I am probably going to school at the end of this summer and I will probably need a student loan. My question is: Will they look at my car (appraised at $16,000) and say I have to sell the car to get a loan, or should I have no problems as far as my car goes? What do you guys think…will I need to sell her?
Yes i have gone down this road before. Long story short if your car is over 5 grand they say sell it and pay for school that way.
i have also heard that, so sell your car to your parents and go under them as a temp driver!!!
Awesome idea, or maybe just work all summer and save your cash to pay for school.
That’s what I am trying to do but my school costs $30grand, plus living expenses. I would like to see you save that up in one year!
You might still qualify for a student loan. When I was going to school, I declared my 15K Corvette and I still got a loan!
Just sell your car to your parents, have it registered in there name, and insure it in yours.
Honestly it might be worth selling. You could sell it and buy something more economical, combine that with saved money and you might be set.
Student loans suck! I have a very small student debt less than 5000 and it bugs the hell outta me!!! Should be payed off by August!!! :drinkers:
That’s what I am trying to do but my school costs $30grand, plus living expenses. I would like to see you save that up in one year![/quote]
Your school costs $30grand per year??? Where on earth are you attending? That is alot. Are you going to be a pilot or what?
[quote="Jason LangeYour school costs $30grand per year??? Where on earth are you attending? That is alot. Are you going to be a pilot or what?[/quote]
WOW!! Good guess!
Yeah I want to become a pilot.
Problem with everyones idea of selling the car to my parents and driving it as a casual driver is that I will probably be living 700KM’s away from my family, so that won’t really work! If it comes down to it I will just have to sell it I guess, and pickup a cheaper car to get me around. Man I would hate to sell her after all the work I have put into her!
Plus side is after I am a pilot and making alot of money I could just get me a GTR spec.V or Nismo edition or something expensive like that!