Will a car under my name affect my financial aid????

<p>Hey,</p>

<p>I will be attending Loyola Marymount University next year and I need a newer and more reliable car to get me there. I live about 1 hour away and I currently drive an 89 toyota which has in the past broken down on me several times. I was wondering if my parents buy me a car (used) UNDER MY NAME, will my financial aid for LMU be affected in anyway? They can't put their name under it and they will probably be paying it off for the next 48-60 months. The loans they will take out from the bank will be under my name also. But they're going to pay for it and it'll build my credit which is a good thing right? More than 90% of my financial aid consists of grants from LMU and the government.</p>

<p>If any of you guys know the answer, please tell me. I will really appreciate it... =D</p>