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Can I finance a car with two loans?

I don't know if I'd get enough money to buy a car with a single loan. Can I get a second one?

Johnny Puckett · Updated on Mar 12, 2021

Reviewed by Shannon Martin, Licensed Insurance Agent.

It is possible, but just because you can doesn’t mean you should. Getting two auto loans at the same time is difficult and adds to your debt, and the monthly payments are unaffordable for most people. If you cannot qualify for a single loan large enough to purchase the car you want, some better options include looking for a less expensive car or saving up for a down payment large enough that you only need a single loan.

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