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Being on disability income can be challenging for a number of reasons. When you have a set income, it’s difficult to get approved for any sort of loan as a fixed income gives little room for movement. Luckily, there are ways to get an auto loan even if you’re on disability income so that you can attain your own means of transportation. Read below for some tips, and let us help you on the journey to purchasing a car when you apply for a loan at Indy Car Financing today!
The Ins-and-outs of Disability Auto Loans
Because of the nature of living on a limited fixed income, it can be difficult to achieve approval for an auto loan. Luckily, there are ways to still get the approval you need to drive off the lot with your own vehicle. Begin by routinely checking your credit report and making sure there are no false reports that need to be corrected. Once you know that your credit is in good standing, add your disability income to any amount that you make from working, and see how much you earn annually. Typically, you can be approved for up to 35% of your annual income for a car loan. If this is still not enough for you to receive a car loan, you may want to consider a dependable cosigner who can vouch for your ability to meet a monthly payment. This may allow you more leeway with the amount you’re approved for as well as a lower interest rate on your overall loan.
Let Indy Car Financing Help
At Indy Car Financing, we know how important it can be to have your own transportation. We work tirelessly with our clients to assure we do everything within our means to get you approved for the vehicle loan you’re looking for. After getting approved, you can browse our inventory of used vehicles to find one to match your lifestyle today!
Get Started with A Loan of Your Own Today
We’re here to help you get approved for the loan you’re looking for so you can manage your own transportation. To contact us, give us a call at 855-468-6215 to speak with a representative about what we can do for you. Our inventory is located at Speedway Chevrolet where we can’t wait to help you get behind the wheel today!