How high does my income need to be to qualify for a car loan?

I have a full-time retail job, but I don't know if I make enough to get a car loan. How high should my income be?

Answer provided by
Eric Schad
Answered on Mar 12, 2021
Every lender has different income requirements for borrowers, but most will approve loans on monthly income around $1,500 to $2,000 before taxes. Keep in mind that this isn’t the sole factor in getting a loan; your credit score and debt-to-income ratio (below 43% after the loan approval) will also determine whether you get approved.

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