PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Can I get a car loan while on unemployment?
I lost my job and the process of getting a new job has been slow. There are more jobs further away from where I live, but I’ll need a car. To get a car, I’ll need a car loan. Can I get a car loan even while I’m on unemployment?
Lauren Smith · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
I’m so sorry to hear that you lost your job. It is possible to get a
car loan
while you are unemployed, although it is difficult. Your chances of being approved will be greater if:
- You have a co-signer with a steady income
- You have a good credit score
- You have alternate forms of monthly income (ex: Social Security, alimony, rental payments, etc.)
- You’re capable of making a large down payment on a car
- You have a low debt-to-income (DTI) ratio
Once you find a loan, you’re also going to be on the hunt for
cheap car insurance
. The Jerry
app is a great place to start. A licensed broker that offers end-to-end support, Jerry gathers affordable quotes, helps you switch plans, and will even help you cancel your old policy.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
.jpg&w=64&q=75){kind=avatar}
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies