If you are a seasonal worker, you can forget getting car financing, right? As it turns out, you can indeed get financing even if you do not work full time. Let's take a look at a few of the key factors that seasonal workers need to keep in mind when they are looking for a car loan.
- Credit score is always important when looking for a car loan
- Past credit history issues
- Overall level of annual income
- The price of the car you are considering
- The consistency of your seasonal work (Employed 2 Years running)
- Money in the bank to put towards a down payment
- Whether you can get a co-signer
Being a Seasonal Worker Doesn't Mean You Can't Have a Car!
Now it is possible that some of these issues might be a factor for you. For example, you may have past credit history issues or your annual income may fluctuate or be difficult to prove for a variety of reasons. Another issue that could be of potential concern is that you don't know exactly how much work you will get from one year to the next. You may believe that such factors will serve to make it impossible for you to get a loan; however, this is not the situation. In fact, all of these issues, including not having enough money for a down payment, can all be overcome.
Many car dealerships are willing to work with people who can prove that they are responsible, so just because you are a seasonal worker doesn't meant that you can forget about getting a car loan. For example, dealerships will look at how long you have lived at your current address. If you have worked for many years for the same company, this will also look good on your application for car financing. Further, if you can get a co-signer to vouch for you and your financial reliability, this can also assist you to get a good car loan.
There are car dealerships that will work with you to help you get a car loan and perhaps even a no money down car loan. The first step is to visit a car dealership and let them know your work situation. They will tell you the different ways in which they can help you get on the road with a new or used car of your own.