How to get a car loan without a job

If you’re unemployed, you may wonder if it’s possible to get a car loan with no income.

Because lenders want reassurance that you’ll be able to pay back a car loan, if you have no proof of income, you may need to go one of these routes to get your loan approval.


A cosigner is someone who agrees to share the responsibility of paying the car loan and, if the cosigner’s financial and credit scores are acceptable to the lender, this may lead to loan approval even when you can’t verify your own income.

Cash-Out Refinance

If you already own a car and want to tap into its equity to get cash for another purpose—medical bills, perhaps or home repairs—then this is a cash-out refinance. Overall, car values are higher now than they’ve been, which means that you may have more equity available in your vehicle to cash out than you realize.

Good Credit Score

Lenders look at two main factors when deciding whether to approve a car loan: income (which, for the purposes of this post, is problematic) and credit scores. So, if one of the two main factors—a person’s credit history—is acceptable to a lender, this may help to overcome some of the challenges with the other factor: income.

Other Income Sources

In this process, the lender will let you know what general kind of offer they’re likely to make, including the amount they’d be willing to finance. This is a conditional offer, but preapproval estimates can still provide helpful benchmarks for you as you seek to get an auto loan.