Great Credit...No Job!

[BlueHusky]

Hello everyone,

Quick question about qualifying for an Auto loan...what are the chances with no job? I've been in school for the past 4 years for college, and upon graduation took I job that I didn't like. I resigned after 2 months, and I'm not looking for another job (I have quite a few interviews though!). Would I be able to qualify for an auto loan? I have great credit, but like I said, no job. I live with my girlfriend, and she has a job, but I assume I couldn't use her income without putting her on the loan.

If I can't get one with no job, can I get one the DAY I get a new job?? Like, bring them the contract instead of a paystub? I ask because my car broke down after I quit my other job (horrible timing) and now I have no way to get around when I do get a new job! Ugh! I have to keep borrowing a car, but that's getting hard!

Advice please! Thanks

[Repo-ed]

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[jllunas]

The bank is going to want some income information. If you don't have income the bank will not want to approve you. In there eyes they are going to wonder how you are going to pay them back with out a job.

[StartingOver10]

Exactly right^^^.  Why would the bank loan you any money if you have zero income to repay the debt? BTW, that is a question you need to ask yourself: Why would you borrow money without any steady source of income?

Get a job first, get your income steady and save for a large down payment. Borrow a vehicle or take public transportation until you can do it on your own. Don't rely on your GF to finance a vehicle for you - that is a recipe for disaster.