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What are my odds of getting a car loan if I'm unemployed?

I really need to get a car loan, but I recently lost my job. Can I still get a car loan if I'm unemployed?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
I’m sorry to hear about your job situation. While it is difficult, you may still be able to get a
car loan
while you’re unemployed.
Your odds of getting a car loan will be higher if:
  • You have great credit
  • You have other sources of income
  • You can make a down payment in the neighborhood of 10% to 20%
If you get declined for a car loan, you may want to consider buying a reliable used car with cash.
Whether you get approved or you buy a car with cash, make sure to save money on your auto insurance. With the
Jerry
app, you can compare quotes from over 45 insurers and find the best rate for your coverage needs.
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