Can I get a car loan if I have a DUI?

I got a DUI two years ago and I haven't had a car since then. Can I get a car loan with this on my record?

Answer
Yes, you should definitely be able to get a car loan even if you’ve had a DUI. Your record is of little concern to lenders. They care more about your income, debt-to-income ratio, and credit history.
The major drawback of DUIs to those looking to purchase a vehicle is the cost of insurance. In most cases, your car insurance will be two to three times higher than those without a DUI conviction. Add in the need for an SR22 and full coverage insurance as required by your lender, and your monthly car expenses get pricey fast.
In this case, you may want to consider buying a car with cash instead of getting a car loan. When you pay cash, you can choose the insurance coverage level you want rather than being required to carry full coverage, saving you money in the process.
Either way, you should download the Jerry app to help you find the best coverage for your needs and budget. Jerry will generate competitive quotes from top providers in less than a minute.
Eric Schad
Answered on Nov 15, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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