Will i even get approved for a loan?

I'm 18 with no credit and my parents keep telling me that once their new house is built they can help me cosign, but the date keeps getting pushed back. I have a 01 mustang with 174k miles, and the thing is falling apart. Always breaking down. I found an 06 honda civic for 12k. I have 3400 down plus whatever my car is worth probably 1k. And my parents might help with another 1k. So i probably have 5000-5500k.
Will i even get approved for it?

I'm 18 with no credit and my parents keep telling me that once their new house is built they can help me cosign, but the date keeps getting pushed back. I have a 01 mustang with 174k miles, and the thing is falling apart. Always breaking down. I found an 06 honda civic for 12k. I have 3400 down plus whatever my car is worth probably 1k. And my parents might help with another 1k. So i probably have 5000-5500k.
Will i even get approved for it? You will NOT get approved. Lenders require no less than 6 months of unbroken full-time employment, and a minimum verifiable income of no less than $1700-$2000 per month. Not meeting these requirements will get you denied automatically. You're either working the job you started a month or two ago, or still working the part-time job that you had.

Keep your car. The money you spend to keep it running will be less than what you spend on a new car with full coverage insurance. Drive your car until the wheels fall off. When you're in a better place in life (out of the house, done with school, working full-time for more than minimum wage, and not dependant on friends and family for anything), then consider a new(er) car. This is what you need to get a car loan. A full time job with income over $1700 a month and some good credit.

Ever is a very long time.

I'm getting by just fine with a 94 model car. I doubt it. Most 18 year olds lack the credit, income, and employment history to qualify for a loan on their own. You won't get approved alone. You need your parents on the loan. Buy a car you can pay cash for or wait. Your parents are buying a house and they can't mess up their credit file by consigning a loan for you. Not now. You MUST wait or pay cash for a car.
This ain't about you. You have to wait. With no credit you'll need a co-signer. Without a good stable full-time job, even a co-signer won't help. Your best option is to use your $5000 and buy a good used car with cash, then buy a better car in the future when your credit and finances improve. If your 14 year old car is always breaking down, then your estimate of it's value being $1,000 strikes me as wildly optimistic.

Since you fail to say if you have any income, I'll bet it's zero to low, so no, there's no chance that you will be approved for any kind of a car loan.

Buy a $4,500 car. http://www.badcreditcash.net

This is what you need to get a car loan. A full time job with income over $1700 a month and some good credit.

Ever is a very long time.

I'm getting by just fine with a 94 model car.

I doubt it. Most 18 year olds lack the credit, income, and employment history to qualify for a loan on their own.

You won't get approved alone. You need your parents on the loan. Buy a car you can pay cash for or wait. Your parents are buying a house and they can't mess up their credit file by consigning a loan for you. Not now. You MUST wait or pay cash for a car.
This ain't about you. You have to wait.

With no credit you'll need a co-signer. Without a good stable full-time job, even a co-signer won't help. Your best option is to use your $5000 and buy a good used car with cash, then buy a better car in the future when your credit and finances improve.

If your 14 year old car is always breaking down, then your estimate of it's value being $1,000 strikes me as wildly optimistic.

Since you fail to say if you have any income, I'll bet it's zero to low, so no, there's no chance that you will be approved for any kind of a car loan.

Buy a $4,500 car.

http://www.badcreditcash.net