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Bad Credit Auto Loans even Without A Job

It can be hard to believe, but it is possible for a people without jobs to get bad credit auto loans.  Many people without jobs will think they can’t get a car because dealers advertise that they will finance with no credit check if a person has a job.

This is not entirely true: almost all dealers and lenders that make bad credit auto loans will finance vehicles if people are able to prove they have the money to make the payments. If an individual without a job can prove he or she has the money to make the payments he or she should be able to get a bad credit car loan.

The person will have to provide some sort of proof or documentation that verifies their income. The standard method of doing this is to show the dealer or lender a bank statement showing that income has been coming in.

The kinds of income that can be used to qualify for bad credit auto loans include:

  • Pensions
  • Government benefits such as Social Security.
  • Income from annuities.
  • Income from investments.
  • Income from rental properties.
  • Income from businesses.
  • Savings

The main thing the person applying for the loan will have to prove is that they have enough money coming into the cover the car payments. Persons who won’t be able to prove this will not be able to get bad credit auto loans.

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