How Long Do You Have to Be Employed to Get a Car Loan?

by Jeannine Mancini
If you do not meet the necessary employment requirements, consider asking a parent to co-sign.

If you want a car loan there are certain requirements you have to meet. You need a decent credit score, typically around 600 or better. A verified source of income is necessary to show your ability to make the payments. According to The Wall Street Journal, your monthly car payment shouldn't be more than 20 percent of your disposable income. The minimum length of employment will vary among lenders.

Employment History

In general, lenders want an applicant to show a steady employment history for at least the past year. Although you don't necessarily have to be employed by the same employer for that time, lenders usually prefer at least three months on the job when you apply. If you're self-employed or receive income from another source, the lender may work with you provided the income is steady and verifiable. Bring in proof of income, including pay stubs and the prior year's tax return, to boost your chances.

About the Author

Jeannine Mancini, a Florida native, has been writing business and personal finance articles since 2003. Her articles have been published in the Florida Today and Orlando Sentinel. She earned a Bachelor of Science in Interdisciplinary Studies from the University of Central Florida.

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