topic Re: Length of Employment Needed for Auto Loan? in Auto Loans

Length of Employment Needed for Auto Loan?

Anonymous — Fri, 26 Feb 2016 22:52:56 GMT

I just started a new job. How long do you have to work at a place of employment before you can apply for an auto loan? Do lenders take that into consideration, or do they only care that you have a source of income?

Re: Length of Employment Needed for Auto Loan?

Anonymous — Fri, 26 Feb 2016 23:35:05 GMT

Welcome to the board. They only care about income not how long you have been at your job.

Re: Length of Employment Needed for Auto Loan?

Anonymous — Sat, 27 Feb 2016 03:48:29 GMT

@Anonymous wrote:
Welcome to the board. They only care about income not how long you have been at your job.

Actually it's longer the better now if you have a high credit score they don't care. Plus the sales guy will put whatever to see if they can get you approve cause they want the sales

Re: Length of Employment Needed for Auto Loan?

C7LT1 — Sat, 27 Feb 2016 18:05:23 GMT

Welcome to the Forums.

This is going to vary lender to lender. I have never heard of a hard fast rule. Apply to see what they say just don't lie on the application.

Re: Length of Employment Needed for Auto Loan?

elim — Sat, 27 Feb 2016 18:23:40 GMT

The GF's daughter changed jobs (changed fields) and 2 weeks later used the Cap1 soft pull auto prequal and was approved at 7 or 8% with low 600 scores.