At some point in shopping around for a vehicle loan, every person wonders, “How much of a car loan can I afford?”.
The answer to this question depends on a number of factors:
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1. Income
When applying for a vehicle loan, you need to be employed full-time and have been with the same employer for over 3 months – That means passing the standard probation period. Incomes such as disability, ODSD and pension may require the individual to have a cosigner in order to get the best approval for an auto loan application
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2. Credit
When looking to apply for new auto financing, it’s crucial you obtain a copy of your credit report and tackle those things that may reduce your chances of getting the best approval. If at the time when you apply for a car loan and your credit reports has a lot of collections, debts and late payments, you will not get the best approval.
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3. How to apply
Going through the proper channel to obtain a vehicle loan could make all the difference. If your goal is to get the best approval on your next auto loan, that includes the best approval, interest rate, and possible cash back, apply now in just 2 minutes or call 1-855-550-5565 to speak with a credit repair specialist today.
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