Penfed auto loan

[Annabe]

Hey y'all,

I have a question for my brother. He is a penfed member (2 yrs now) with a credit card with them. And he is wanting to buy a car but wanting to finance with penfed, (he wants to start a business with the car). He presently has no job. What are his chances of getting an auto loan with no job (yet)? He plans on using his money from his new business, to pay his payments. 

Thank you for any/all feedback 

[Jnbmom]

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@Annabe wrote:

Hey y'all,

I have a question for my brother. He is a penfed member (2 yrs now) with a credit card with them. And he is wanting to buy a car but wanting to finance with penfed, (he wants to start a business with the car). He presently has no job. What are his chances of getting an auto loan with no job (yet)? He plans on using his money from his new business, to pay his payments. 

Thank you for any/all feedback 

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If he doesn't have a job and no income he will not be able to get a loan 

[CreditCuriosity]

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@Jnbmom wrote:

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@Annabe wrote:

Hey y'all,

I have a question for my brother. He is a penfed member (2 yrs now) with a credit card with them. And he is wanting to buy a car but wanting to finance with penfed, (he wants to start a business with the car). He presently has no job. What are his chances of getting an auto loan with no job (yet)? He plans on using his money from his new business, to pay his payments. 

Thank you for any/all feedback 

---

If he doesn't have a job and no income he will not be able to get a loan 

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correct

[FireMedic1]

Seen it too many times. Dont co-sign even though you love him. Something happens your stuck with payments.

[emilkostov]

What about if we have a job but credit score totally sux? 

[DebbsSeattle]

Don't need a job but need income. Only non traditional option is a buy here pay here lot. Rates are high. Down payments will be what the dealer is in it, you finance their profit. They install gps locators and ignition disabling kill switches. You don't pay, you don't drive. You don't pay for 59 days, they come hook it and you are done.