Pat Goss' Tips & Expert Advice

Auto Loan Requirements

Although CARCHEX.com is sometimes able to acquire bad credit car loans for applicants, there are still some people who will not qualify for a loan through the CARCHEX.com application process.

You need to be at least 18 years old with a valid driver's license. You are also required to have a phone number, email address, and make at least $1,500 per month. If you have not been with your current employer for at least a year then you may not be able to get approved for an auto loan through CARCHEX.com, and if you are currently unemployed, then you may have to find alternative financing.

If possible, wait until you can actually qualify for an auto loan from one of CARCHEX's reputable lenders because you will not receive the high interest rate that you would get through another lender who approves unemployed applicants. CARCHEX.com does everything they can to make sure that applicants are approved and that they receive the very best interest rates possible. The fact is, however, that there are some limitations lenders simply aren't willing to work with.