It is possible to get a car loan without an employment history, but it may take a little longer. … Car finance for the unemployed may be approved with the addition of a guarantor. This is someone with a good credit rating and most likely in employment, who will guarantee your repayments throughout the term.
In this manner, can I get car finance If I am on benefits?
It is possible to get car finance if you’re receiving benefits. But, while receiving benefits won’t automatically stop you from getting car finance, whether you qualify for finance will depend on individual lenders and on your individual situation.
In this regard, does unemployment count as income when applying for a loan?
Unemployment benefits would not be considered as income during a loan application.
How can I get a car loan with no income?
Finding a lender to give you a loan on a car when you have no proof of income might seem impossible, but luckily you have a few options you can fall back on. These standby methods include finding a cosigner, using collateral, paying a higher down payment, or paying for the vehicle outright.