"Can I get approved for a car loan if I have perfect credit but really low income? "

"I just got out of college and will be starting a new job, making $50,000 per year. My credit score is around 800.

Last year, working part-time, I made about $10,000. How likely is it that I would get approved for a car loan?

"

Answer
“If you go to a big dealership, you can probably talk to their financing manager and get approval fairly easily with that kind of credit score. They might not even ask you to verify your income.
However, if they do deny you a car loan because of your income, you could always get a cosigner. The best way to find out if you can get approved is to talk to a lender or dealer. “
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Johnny Puckett
Answered on May 25, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
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