Can a part-time worker buy a car with a credit score of 700?

My daughter goes to school full time and works PT grossing about $700 a month and wants to buy her own car. We don%26#039;t want her running credit checks just yet with financing companies. What are her chances of getting a car without a huge down payment and no co-signer? (She%26#039;s interested in a Ford Fusion.)

Can a part-time worker buy a car with a credit score of 700?

Her credit will be run at some point in her life anyway; so, it doesn%26#039;t hurt to find a car for $175 a month which is 25% of her income.

The Ford Fusion, even at CarMax, will start at $15K and there%26#039;s no way she can buy the car for $175 a month unless you co-sign or give her $10K as a down payment. You can put up the down payment and not be on the loan or on the title. Plus, your daughter will spend about $100 a month on insurance plus gas and maintenance, maybe $100 a month for the payment can be optimal.

Can a part-time worker buy a car with a credit score of 700?

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Can a part-time worker buy a car with a credit score of 700?

She probably can. With no down payment though, the payments may be very high and then insurance will be high if she%26#039;s never had it on her own. So her monthy income would be solely her car, unless you or someone else is helping her with that. She has a good credit score, so I am sure they will approve her.