can i apply for a car loan without a job

can i apply for a car loan without a job

Can I Apply for a Car Loan Without a Job?

Having a steady source of income is often a requirement for securing a car loan. So if you’re unemployed, you may be wondering if you can still apply for a car loan. The answer is that it’s possible but it is likely to be more difficult than when a person has employment or other sources of income.

What Is Needed to Apply for a Car Loan?

In addition to proof of income, a lender will usually require various documents to apply for a loan, including:

  • Proof of identity. This is usually in the form of a valid driver’s license or passport.
  • Proof of residency. This is usually in the form of a utility bill or other document that includes an address.
  • Proof of insurance. Proof of car insurance is usually needed before approving a car loan.

What Options Are Available?

When someone is unemployed and needs a car loan, there are still options available:

  • A co-signer. A co-signer can be used when someone is trying to get a car loan when they do not have proof of income. This will require another person with a steady income to sign the loan payments. The co-signer is responsible for making payments if the other person fails to keep up with payments.
  • Asset-based loan. An asset-based loan is loan that is secured by some type of asset. For example, if a person owns a house with equity, they could use that as collateral for a loan. This can help lenders feel more secure and potentially be willing to offer a loan even without a job.
  • Online lender. It may be possible to get approved by a online lender without proving income. These lenders do not follow the same rules as a traditional lender, so it is important to research any lender before applying.


Getting approved for a car loan without a job can be done, but it is likely to be more difficult. There are a few options such as using a co-signer, asset-based loan, or online lender that may be able to help, but it is important to do plenty of research beforehand.


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