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

Answered by Car Loans Expert Eric on January 11, 2021

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?

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Eric

Car Loans Expert

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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