Low Income Auto Financing

Xsdnumdex

Dear Friends,

 Is there a way to get an auto loan with an income of $1200 a month without a co-signer?

I spend less than half of my income on my bills and that includes a 10% monthly donation. I guess being a boring, grungy, raggedy Ole man helps with the spending.

I plan on putting down almost half but maintaining a few grand for emergencies.

I have an 783 FICO and a strong money management culture.

I thank you in advance for your courteous reply

Michaell

Xsdnumdex said:

Dear Friends,

 Is there a way to get an auto loan with an income of $1200 a month without a co-signer?

I spend less than half of my income on my bills and that includes a 10% monthly donation. I guess being a boring, grungy, raggedy Ole man helps with the spending.

I plan on putting down almost half but maintaining a few grand for emergencies.

I have an 783 FICO and a strong money management culture.

I thank you in advance for your courteous reply

How much are you looking to finance?

I suspect what will trip you up is the "debt to income" ratio, which all banks use to determine credit worthiness. If your new car payment will be, say, $600/mo, that would be 50%, and probably too high.