“Every lender is different, but usually the cutoff is around $1,300 per month. That being said, if you are able to find a bank that will lend to those who make less than that, there are usually other factors to consider.
For example, there’s a rule that banks require a maximum debt-to-income (DTI) ratio of 45%, including the car payment and car insurance. Also, a car payment cannot account for more than 20% of a borrower’s income.
So if you make $1,000 per month, you could only afford a $200 car loan payment. This is backed up by the 45% DTI rule, which in your case would allow you to have only $450 of monthly expenses, including the car payment and insurance. After a $200 car payment and roughly $100 in insurance, you are left with $150 to cover housing.
Bottom line: it may be possible for you to get an auto loan, but it would probably be a better idea to hold off until you’re making more money and you have saved for a down payment. “