To get a car loan anywhere you need income and an auto lender will make sure you have that before offering you an auto loan. Employment is the biggest road block and if you don’t have it you won’t be able to get a new or used car in San Antonio Texas.
What auto lenders look for with income in San Antonio TX
Auto lenders really look for $1,500 to $2,000 steady monthly income. They want to make sure you have steady income to cover your car payment plus other bills. Employment for a car is important that’s how the auto lenders make sure that your going to pay on time for the vehicle.
Beside employment they look at other facts for a car loan like credit score. Yes you need to have a decent credit score or you might be looking at working with a subprime credit auto lender in San Antonio Texas.
Dealers vary their requirements for car loans but having a job is standard. If you make at least the $2,000 a month you should be able to get a used car in San Antonio Texas with bad credit.
Now working with any dealership in San Antonio Texas may be an issue for the reasons of bad credit, not all car dealers in Texas are set up for subprime auto financing. That’s why we recommend that you at least have a $500 down car payment for a used car in San Antonio Texas.
Talk down payments for a used car in San Antonio Texas
It will help with interest paid on the vehicle. If you can get more then $500 we highly suggest doing so. But don’t be shy to shop rates of car loans in San Antonio.
Dealers may work on you for no money down car deal in San Antonio but just focus on the down payment for the car you want. No money down vehicles sounds nice until you see the high monthly payments.
You want to keep payments low so a down payment is the only option you have for a used car. Make sure the car dealership makes the payment reasonable for you.
One more thing we want to mention is that a car dealership in San Antonio will check your debt to income ratio (DTI) to make sure everything check out for financing the vehicle through them.
Find the dealership in San Antonio Texas
Need help connecting with a subprime auto lender or car dealership in San Antonio Texas? There are tons of special finance dealers across Texas that can help you find a reason car loan with bad credit and low payments.
By filling out our auto loan form you are making it easier to buy a new or used car online in San Antonio Texas.