Tips on Buying a Car with No Job History

Get Car Financing
Even with poor credit.

By

Contributing Writer

David Topham is an Automotive Content Manager for Internet Brands. He works as the lead editor for CarsDirect and Auto Credit Express, and contributes to those sites alongside other Internet Brands' properties like The Car Connection. He was born and raised in Michigan and is a graduate of Michigan State University.


, Contributing Writer - February 21, 2017

If an applicant leaves the past and current employment sections on their auto loan application blank, chances are the dealer and lender are going to have a lot of questions.

While buying a car with cash should be no trouble, getting an auto loan with no job history can be difficult, depending on the situation. Lenders are concerned with how the borrower will manage payments, so they like to see a consistent job history. If the applicant doesn't have one, they better have another steady source of income. A job history may not be required, but the ability to pay is.

There are several income sources that aren't job related which can be used when applying for a car loan. Examples include disability, social security, court-ordered child support and alimony, settlements, and more.

If a consumer has good credit and enough income, they should be able to get approved for a car loan even without a long job history. However, if a borrower has bad credit and no job history, getting approved for an auto loan can be more challenging.

Are You A Student or Recent Graduate?

Students and recent graduates won't have extensive job histories, if any at all. And lenders understand this, which is why many of them offer student, recent college graduate, and/or first-time buyer auto loan programs. These programs frequently have incentives attached, such as a cash back rebate or reduced APR financing.

However, as with any auto loan, there are still requirements an applicant must meet in order to qualify. And one of those will be a minimum income requirement. If the applicant isn't making any money at the moment, but has a job lined up, they often are able to get approved with a letter from their future employer that states their salary and start date.

Options When Buying a Car with No Job History

Non-students and recent graduates looking to buy a car with no job history face different obstacles. The easiest way these consumers can buy a car is to pay for it with cash. But that's not an option for most people. If they need an auto loan, here are some options they can pursue.

  • Have good credit and an income source - If a borrower has a good credit history and the income to support a car loan, lenders are usually willing to approve them even without a lengthy job history.
  • Improve credit before applying - Borrowers with so-so credit and no job history may want to spend some time improving their credit before applying. If they build up their credit, their lack of a job history could matter less to some lenders.
  • Get a cosigner - Borrowers with imperfect credit and no job history who have a steady income source may be able to get approved with a cosigner. The cosigner would need to have good credit and meet the lender's income requirements.
  • Go to an in-house financing dealership - If a borrower has a steady income source, they should be able to get approved at a car dealership that finances loans in-house and doesn't use a bank.

Somebody with bad credit and no job history can have trouble finding auto financing, especially if they aren't working with the right dealership. At CarsDirect, we are connected to a nationwide network of car dealerships that specialize in finding loans for people dealing with imperfect credit.

We have helped thousands of customers in the past, and you could be next. Get started today by filling out our free, easy and secure online auto loan request.

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, Contributing Writer

David Topham is an Automotive Content Manager for Internet Brands. He works as the lead editor for CarsDirect and Auto Credit Express, and contributes to those sites alongside other Internet Brands' properties like The Car Connection. He was born and raised in Michigan and is a graduate of Michigan State University.


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