Covid-19 and College: Getting a New Car for the New Year of College
College is the beginning of leaving the old yellow school bus behind and moving towards a more individual medium of transport. However, with the Novel Coronavirus spreading and taking over the world, the pandemic is a new reality that many educational institutes are going to accept. While many colleges and universities are going to continue online mode of teaching, there are a few colleges who are making the decision to either reopen with precautions or reopen colleges in January. Sanitizers, face masks, social distancing, fever checkpoints, and dorms turned into quarantine zones for affected students are the measures of a new normal college life that comes with the Covid-19 outbreak.
Pointers for an Affordable Car Purchase during Covid-19
With the onset of Novel Coronavirus, it is imperative to have a private vehicle now more than ever. You can buy your new car with all the precautionary measures so that you stay safe in the long run. Keep the following points in mind while purchasing your next car as a college student.
1. Get a Co-Signer
When you are purchasing your first car, you may have little to no credit score. No credit score can become difficult as an auto dealer cannot ascertain your creditworthiness. A cosigner can help you to get approval for an auto loan backed by his stellar credit score. Therefore, you can avail faster loan approval if there is a co-signer willing to make payments in the case that you miss out on a few of them. Your chances of obtaining an auto loan increase if you get a co-signer.
2. Choose the Right Car for College
Your car is going to stay with you for the most part of your college life. Choose a car which is right for you in terms of the budget and the safety features. As it is your first car, it is better to opt for a useful car as against a flashy car model. Additionally, make sure to purchase a car that fits within your budget. For instance, a Honda Fit 2020 is a better car for college as against a BMW 3 Series. Therefore, choose a useful and budget-friendly car with all the necessary safety features.
3. Get Pre-approved Car Financing
Once you have selected the car, your next aim should be to get a pre-approved auto loan. It will be of immense help when you are on a tight budget. You will not overspend on the car as you will be aware of the amount funded by the lender. Therefore, make sure to get a pre-approved auto loan for your college car. You will stand to make a good negotiation on the car value if you have been approved by the lender in advance.
Covid-19 & College: The Situation in the Long Run
The new world of Novel Coronavirus will surely be one which will lead to various restrictions in what we knew to be normal. College life will also see a change as social distancing becomes a key element in breaking the chain and flattening the curve. When your college reopens, you should be ready with your private car for the daily commute. Preparing for all the necessary steps in the auto financing process will help you to be one step ahead and make your college simpler.
Are you ready to buy your first car for college? Applying for a no credit auto loan is easy. Get in touch today to get a pre-approved auto loan for your new car. No co-signer car financing available for college students without co-signers.