Can I get a car loan if I'm paid cash as a babysitter?

"I babysit, and I always get paid in cash. My car is about to die, so I want to get a car loan for a nice used car. I currently make about $700 a month.

Can I get a car loan if I'm a babysitter?"

Answer
“Unfortunately, you probably won’t be able to get a car loan not only because you get paid in cash, but also because you probably don’t earn enough money.
Your car loan is going to be a few hundred a month. Plus, you need to factor in another couple hundred a month for car insurance (full coverage, which is required by lenders on car loans), maintenance, and gas.
Instead of getting a car loan, save your money and pay cash for a vehicle in your budget. You’ll be glad you did.”
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Eric Schad
Answered on Jun 17, 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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