Can I qualify for a car loan if I list child support as my only source of income?
I'm receiving child support from my ex-husband. I'm also looking for a job, but for now the child support is the only income I've got. Is this enough to get a car loan?
Answer provided by
Eric Schad
Answered on Mar 12, 2021
Unearned income, such as child support, can qualify you for a car loan, yet it’s completely dependent on the amount of child support income and how long you’ll be receiving it. If this is your only income, you’ll also have to have good or excellent credit to become a strong candidate for an auto loan.
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