Kathy Said:

Which is better for building credit? Auto loan or student loan?

We Answered:

Get the student loan because the rate is lower. Not only can you pay it later but you can pay a little extra $20 or $30 NOW so that the balance will be lower when you have to pay it back later.
When you apply for a mortgage loan in the next 2-3 years your student loan monthly payments will be added to your debts and you don't want your debts to be too high.
Plus your insuance rate will be lower if you pay cash for your auto.

Andy Said:

Do my monthly student loan auto payments help my credit score?

We Answered:

with or without school, as long as you are paying on time every month, your loan will build it up for you. congratulations, keep it up.

Enrique Said:

I am 20 years old and would like to apply for an auto loan. I am a student, my income is financial aid.?

We Answered:

Unfortunately, you don't have a chance at all. Financial aid is not a source of income. A source of income is a job. Regardless of how good or bad your credit is, if you don't have a job, you won't get a loan, not even for a much less amount. Part of what banks look at for loans is your debt-to-income ratio; how much you make (through a legitimate job you pay taxes on) versus how much money you owe. Given that you don't have a job, your debt-to-income ratio is terrible. The only chance you have is if you were to get a cosigner who has both good credit and a good debt-to-income ratio.

Olga Said:

Could I consolidate a student loan with an auto loan?

We Answered:

If the student loan is a government guaranteed loan (stafford, perkins, etc). then you wouldn't want to because the repayment terms of those loans is very favorable and you lose those terms if you combined them with any other loan.

If it is a private loan then the only way you could do this is with an unsecured private loan. Which you probably still wouldn't want to because the interest rate and length of repayment period are much worse for personal loans than for either a car or student loan.

Lillie Said:

Is there a such thing as a student auto (car) loan?

We Answered:

No, sorry there are no auto loans like that. Deferment only applies for student loans.