Nancy G asked:
Can a person who is disabled and on SSDI able to obtain an auto loan? Do you know of any lenders that would accept an application from someone who does not work but gets a monthly disability check?
Ricky
Can a person who is disabled and on SSDI able to obtain an auto loan? Do you know of any lenders that would accept an application from someone who does not work but gets a monthly disability check?
Ricky
Steve
I think you should expect to have a co-signer. Otherwise a large down payment would be expected.
Comment by thomas p — August 23, 2010 @ 12:55 pm
Marilyn
Your disability income will be considered as your income, when trying to get the loan. They will simply process the loan the same way. They will consider your credit history, the amount of debt you owe, how you pay, income, etc.
My father was made disable through a massive stroke, and after he was unable to work, we had to work on downsizing his debts. We sold his expensive car, and used the extra money to pay off his mortgage, then we went an found a good used car, and had no problem getting financed. Good Luck to You!
Comment by Dixie Darlin' — August 25, 2010 @ 3:17 am
Randy
I believe you may qualify for an auto loan. A friend of mine receives SSDI and she was approved for an auto loan with a co-signer.
Comment by CeCe — August 25, 2010 @ 3:23 pm
Jesus
Quality One Auto Sales has been able to finance thousands of customers whom others have turned down.
Comment by heleinalee — August 27, 2010 @ 10:22 am