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How can I get a car loan for a Hyundai if I'm unemployed?
I've been unemployed for about a year, but my job prospects look good. The only problem is that I need a car to get to my future job options. Can I still get a car loan?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That’s great news that you have some job prospects!
Most lenders won’t approve you for a
car loan
when you’re unemployed, but it’s not impossible. Here are some possible ways you may qualify:- You make a sizable down payment
- You find a cosigner
- You have good credit
- You work with lenders that specialize in loans for low-income or unemployed people
Lenders may also give you a loan if you have an additional income stream, such as investment income, rental income, or any other type of income.
If you’re approved for a car loan, make sure to live within your means and budget for car insurance. With the
Jerry
app, you can compare quotes from dozens of insurers to get the best rate. Average Jerry users save $879 per year on car insurance. View full answer
- Gregory R.
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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.
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