Can I get a car loan if I have a part-time job that pays $1,500 a month?

If I have a part-time job as an office assistant that nets me about $1,500 a month, will it be enough to finance a car?

Answer
“If you need a car, you might want to consider saving up and paying cash for one. That’s probably your best plan.
Most lenders won’t provide car loans to people with only part-time jobs unless they have a cosigner. If you have a parent or friend with good credit cosign your loan, you might be all right.
Keep in mind that any financed car will also require full-coverage car insurance, which can often cost more than the actual car note. In that case, make sure to budget properly because you might be looking at a way more expensive purchase than you anticipated.”
avatar
Eric Schad
Answered on May 05, 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.
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.