My wife needs a new car, she has a great credit score but she is a housewife. I make a good decent money but my credit is not that good. I know I can get approved for auto loan but I don't want to pay a high interest rate with my credit. So is it possible for her to get an auto loan without a job but great credit? thank you.
Can my wife get approved for an auto loan if she doesn't have a job but a great credit score?
Auto finance is what I do for a living and the legal answer is no because the first thing a lender looks for is the ability to repay the loan.
The real answer is there are dealers out there that will lie about your Wife's income if her score is high enough because they know that the lender will not require her to prove it.
I work for a Chrysler dealer and Chrysler finance has a box you can check for household income. I have used this in the past and got people approved if their scores and profiles are good enough.
Can my wife get approved for an auto loan if she doesn't have a job but a great credit score?
You can apply for a joint loan. Without an income she won't qualify, and with your lower credit you'll get a higher interest rate. If you really want to get a loan apply jointly - that way they'll use your combined income and a balance of your credit scores.
Can my wife get approved for an auto loan if she doesn't have a job but a great credit score?
Not likely. If you were a lender, would you loan thousands of dollars to someone who has zero income? Get real.
Can my wife get approved for an auto loan if she doesn't have a job but a great credit score?
needs a new car? she needs food, she needs water. she needs clothing.
needs a new car? I don't think so.
get her a $1000 or $2000 beater, pay cash. no payments. since she isn't working a J.O.B.
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