When trying to go for car financing without a job it will need a down payment.
Some lenders will require a down payment of 30% or more before granting a loan to someone who is unemployed however.
So be prepared to pay a little more for the down payment if you do not have a job or a regular source of income.
Can you buy a car without proof of income?
When you apply for a car loan, most lenders require proof of income. If you are unable to provide that evidence because you don’t have a job or are self-employed, your options are somewhat limited. However, it is still possible to buy a car even if you don’t have proof of income when you follow some specific steps.
Do you need a full time job to get a car loan?
You can get approved for a bad credit car loan even if you only work a part-time job, but only under the right circumstances. However, subprime lenders also consider employment stability and time on the job.
Can I get car finance on benefits?
Buying a motor vehicle is not an option for many people on benefits like income support, jobseeker’s allowance or working tax credits. In order to make a vehicle even more affordable for people on benefits, we also offer no deposit car finance.
Photo in the article by “Wikipedia”