Can I get approved for a car loan if I have a low income but make a big down payment?

Answered by Car Loans Expert Johnny on January 15, 2021

Conor asked

I don't make much since I only have a part-time job, but since I inherited some cash recently, I can make a big down payment on a car. Do you think I can get a loan?

expert avatar

Johnny

Car Loans Expert

There are many lenders that will approve loans for low-income earners, but they will usually need to review your financial situation first. Making a large down payment — and having a good credit score — will definitely make it easier to find financing. Having a cosigner can help as well.


Car Loans

Have an insurance question?

Our insurance agents are ready to help you, for free.

Ask your question, it’s 100% free
Recommended
Thousands of customers saved on average $887/year on their car insurance with Jerry
This app is great, but the customer service is even better! Not to mention convenient! My husband and I got the lowest rate (much lower than the rates I was finding online through my own searches), quickly, and pretty much all through text message! Thank you so much for a hassle free experience👍
Gabriella R.
Find savings (100% Free)
stars4.6/5 Rating on App Store