Not everyone works a regular nine-to-five job. For those who are self-employed or freelancers and need an auto loan, here's what to expect when you apply.
Continue ReadingNot everyone works a regular nine-to-five job. For those who are self-employed or freelancers and need an auto loan, here's what to expect when you apply.
Continue ReadingThe length of time you've been employed is a factor when it comes to getting approved for an auto loan. Here are the employment requirements to be aware of.
Continue ReadingIt seems like everybody has a side hustle these days, or maybe several. Side hustles are a great source of extra income, but if you need a car loan, you need to have a regular full-time job too, otherwise, you may not qualify.
Continue ReadingWhenever you're looking to take on new credit, such as a car loan, your income and work history are likely to come up with the lender you're applying with. In the world of vehicle financing, having enough income to repay the loan is key to qualifying.
Continue ReadingThe 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.
Continue ReadingIn 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.
Continue ReadingYou 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.
Continue ReadingEven 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.
Continue ReadingLying 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.
Continue ReadingIf 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.
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