Top Cars for College Students
| 2019 Vehicle model IIHS safety ratings | Safety features |
|---|---|
| Hyundai Elantra | Hyundai Elantra safety features |
| Mazda CX-5 | Mazda CX-5 safety features |
| Subaru Impreza | Subaru Impreza safety features |
| Toyota Camry | Toyota Camry safety features |
Carangel.org: The second NPO organization which provides free cars for students is Car angel. They donate as well as accept cars for charity and give it to the person who needs it most, including students. For free cars for college students, they will ask valid documents and good academic score.
An SUV is great for students interested in exploring the outdoors, or those who simply want the ability to drive all their friends around. While they are more expensive and don't have the gas mileage of other classes, you can still find affordable and fuel-efficient SUVs.
Your car-buying budget
Your total car-related expenses (including loan or lease payment, insurance, and any savings for repairs) should be no more than 15%–20% of your monthly budget, assuming you're out in the "real world" and paying rent and other expenses.
Buy a Used Car
The latest vehicles on the market may have advanced tech and features, but if you're a college student looking to save, it's best to buy used. Typically, pre-owned vehicles cost less and have lower monthly payments than newer models available.
Which Cars Do College Students Really Drive?
If you make a large down payment for the purchase of your car, then the loan amount to be taken will be much smaller. So, banks/lenders will be willing to lend a comparatively small amount as a car loan for a student. So, the higher the down payment on your car, the more the chances of getting your car loan approved.
The Miata is often referred to as a girl's car, and there are guys buying Ferraris to attract women.
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Here is a list of some of the hottest cars and SUVs female buyers are attracted to the most.
Some financial experts recommend setting your car-buying budget at half of your annual salary. If you look at the previous example of making $5,000 monthly, that will equate to an annual salary of $60,000. Half of that is $30,000. According to this rule, you can spend up to $30,000 on your upcoming car purchase.
The short-term cost of leasing is always cheaper than buying, by about 30%. This is because your lease payments are usually lower than your loan payments if you have a loan. Also, depreciation of a car is always the most in the first year. In the medium-term, 2-4 years, leasing and buying costs are about the same.
One of the factors that could help you to get fast approved for car loans for students with no job is a cosigner having good credit history. ... In fact, lender's approval criteria for car loan for students with no credit history may make it mandatory for you to have enough income, collateral, down payment, etc.
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