The amount of debt you have can make or break your auto loan chances. Here's how lenders see your other debts and monthly obligations, and some tips on lowering your debt to income ratio.

Proving your income and employment are two of the most parts of qualifying for a car loan. How you prove your income source can depend on what type of income you bring in each month, though.

In some cases, an offer letter may be used as proof of employment. However, if your credit score isn't great, then you may need more documents to prove your ability to repay the auto loan.

You can't finance a vehicle without some way to repay the loan. This means having the income to make this promise, and having relative certainty that your income is going to last the entire term of your auto loan. However, nothing is certain in life, so subprime lenders also look at the factors surrounding your income to decide whether or not you qualify for a car loan.

When you're financing a vehicle, lenders don't just take your word when it comes to income amount, they need proof – typically in the form of documents used to make various calculations about your auto loan and your ability to repay it.

Even with a good job and steady stream of income, a bad credit score can still be the thing that hurts your auto loan approval chances. However, there are options for borrowers with credit challenges.

Lying about your income or employment on a car loan application isn't a great idea, and we have three possible consequences if you go through with it.

If you're struggling to qualify for a car loan because too much of your income is going toward other bills, it could be time to consider getting a side hustle to free up some cash.

Not all lenders can accept two different jobs to meet the initial income requirement for vehicle financing. However, supplemental income can, at the very least, help lower your debt to income ratio to increase your approval odds.

When it comes to qualifying for a bad credit car loan, meeting income and employment requirements is a must. We cover the acceptable types of employment and income types that you're likely to need with poor credit.