Suggestion:
I think they want to see 2 years at a job. I don't know if that's still true but when my husband first went to get a car a few years ago he had just started a new job and before the guy even ran his credit he said they may want to see two years of employment. He did get a new car after he worked for two years.
{ 5 comments… read them below or add one }
State unemployment is a temporary thing. You can't get a car loan based on that. You'll need to show you have a steady income to pay back the car loan, so NO, you won't be able to buy a car without a job.
Why would you get a Brand New Car if you just lost your job?
How are you gonna pay for it??
Just get a good used car, there are plenty of them, and many dealers don't care about your credit history or anything. But to quality for a bank loan, ofcourse you would need a job!
Ur screwed. No job, no car, better have plenty of cash if you want to trade in your not-running junker.
Are you serious? You don't have a job and you're wanting a NEW car?
No offense, but ANY lender is going to ask for your income before even considering you for a loan. And nobody is going to consider you while you're on unemployment. Not trying to be harsh, but it's how they work. There is no guarantee you can pay back the loan at all.
Think of it this way… someone approaches you for a $15,000 loan, and they only make $4-500 a month… loan payments are set at $400 a month… would YOU loan them money?
yes, you need a job to qualify for a loan. Proof of income is required and unemployment is not considered income.