Is there a limit to how many car loans I can have?

I want to get a fourth car loan, but I'm not sure if I'll get approval. Is there a maximum number of car loans you can have?

Answer
No legal limit exists for how many car loans you can get. The only thing that may prevent you is the lender just saying no, a debt-to-income ratio that’s too high, or not enough income to support four car loans.
Again, it is always at the discretion of the lender whether to give you a loan, especially in a riskier situation like having multiple loans.
If you get approved for a fourth loan, you may want to consider an auto loan consolidation. You apply for a consolidation loan like any other loan, and all four of your loans would be combined into one payment.
When it comes to insuring your four cars, make sure to get a multi-car policy or apply for a multi-vehicle discount. Use the Jerry app to compare dozens of competitive quotes so you can find a multi-car policy that saves you hundreds of dollars each year.
Eric Schad
Answered on Nov 15, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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