Want to buy a new truck. Only make $14/hr though. If I put $40 on the application will they even check?
>>28772229Yes they do
I haven’t gotten a car loan, but every other loan I have applied for has. After I lost my job, my credit cards all cut my limits and whereas I could easily pull a 15k loan, now I get denied for five. Goldstein doesn’t like when you’re unemployed, it him shitless.
>>28772229They absolutely check. Also, you're probably in no shape to even buy a new vehicle but that's not going to stop you from selling your soul to RAM.Also, you're probably going to get credit card tier APR these days. I have no idea how people can afford these new cars given the median and average credit scores these days. They're all probably in danger of losing their car anyways.The auto industry gave the gift of free time to much of their manufacturing workers, because they laid off thousands of auto workers this holiday season. Can you imagine getting fired and seeing the CEO tell you that he/she has well wishes for your unemployed meatsack a week before Christmas? That's a dick move.
would YOU check someone's income before loaning them $40,000?
>>28772229When I sold cars they did.
>>28772360There are tens of thousands, if not hundreds of thousands of people who are underwater on their car loans. People are debtmaxxing without even realizing it
>>28772229they do but they won't care. there is zero risk in lending anymore because they can just sell the debt to a company specifically designed to take on unresolvable debt to make its own books look good and then take on more debt itself based on the money it has "coming". it's kinda like a pyramid skeem
>>28772229They will check if you put $40/hr.They are mostly looking at your total debt to income ratio, not necessarily your outright income. If you have no other loans/credit that you are paying back then you can still get a pretty big loan at $14/hr. They might make you sign for a 72 month loan or some stupid shit, but you usually can make extra payments and so doesn't really matter. You just have to make sure your extra payments go towards the principal (lowering your overall loan amount) and that they aren't just pre-payments (same loan amount but cutting down your number of payments off the end).
>>28772229They're supposed to check, but the last time I bought a car they didn't. They they just asked me what my yearly gross was. However, I had a 835 credit score.Also anon:>We can't afford to buy the car in cash right now, you can't afford it.
>>28773189>There are tens of thousands, if not hundreds of thousands of people who are underwater on their car loans. People are debtmaxxing without even realizing itI know, because I see inflated car prices stick, which means people are willingly taking it up the ass on really long payments on high interest rates. They're doing this on cars under $10k too, which are normally cash cars.I decided to try something I've never done before, and stare at the monthly payment instead of the total cost of the vehicle. I started to understand the psychology of an average car buyer. $50k looks hard to swallow but a $300/month mortgage looks easier to tolerate even though the total expense is probably about $100k+.
>>28773409if everyone subscribed to this theory there would be no cars. it's 2025. get real.>>28772229you cannot afford a truck. you cannot afford a car. get an ebike or take the bus.
>>28772229You make public transit income. If that it not possible, but the cheapest shitter econobox that sort of runs and learn to maintain it yourself.
>>28772229>Want to buy a new truck. Only make $14/hr thoughfucking moron
>>28772301>>28772360>>28772367>>28772369>>28773196when I bought a $15000 motorcycle, I asked this same question. The guy said they do for some people but since I had a high credit score he didn't give a shit and wouldn't. I bought it outright anyway, but still.get your social numbers up, faggots.
>>28772229They do. The only bank that will give you a car loan sight unseen are the ones that come with a 25% or higher interest rate. And the reason they give you the loan is precisely because they expect that you will default on it. The exact kind of people that will put penalties on you making extra payments. If you only make 14/hr, you're probably gonna clock in at around 28-30K a year someone making $40/hr would put you in the upper range of 80K a year. They're gonna notice. It's ok to fluff up an application a bit, it's not ok to lie about it to the point it'll almost look like fraud.Save your shekels. here's how you do it: You pretend you have a car payment right now. Open another bank account on a completely different bank, and just make automated transfers from your main account to this one. You are going to forget about this account. Shut the fuck up, you are. Think about what you can afford to pay for a car on a monthly basis,for the sake of this post, let's pretend it's $200 a month. If this is too much now you know you cannot comfortably afford this amount, you need to either get more hours, a better job, or reduce the payment. Do this for a couple of years, and you'll have enough money to buy a more decent shitbox outright, let's say you saved this way for 3 years. Monthly $200 x 3 years = $7,600. You either get yourself a decent shitbox for this amount, or stick it down on a dealershit as a hefty down payment on some lease return Hyundai CPO cheapo shitbox with 30K miles in the odometer after 3 years of use. Congratulations, you have a new(ish) car, you take care of it and make it last. You also have built the habit into your life as is of having a car payment so you're already able to survive without having to alter your life all that much. Once you pay off the car rinse and repeat, this will now become your "The tranny broke and now I need 5K" fund, or it'll be the new base for year another down payment if you need a better car down the road.
Do NOT get a loan. I got a running shitbox for $400. You can too.
>>28773823>Do NOT get a loan. I got a running shitbox for $400. You can too.One of these days, I'll have to try to spring for the beater shitbox. If it turns out well and it's just a cheap car with high miles, it'll completely ruin the idea of a newer car.Sub $1000 shitboxes are now starting to become more common now, so it's probably a sign that the auto market is cooling off once more.
>>28773771Please don't buy Korean. Jamal will steal it. Very easy to steal.
>>28774428First of all, that's something that doesn't happen anymore. Kia and Hyundai both recognized the outright disaster this was, and made sure Jamal has to work just as hard to steal their car as he has to steal a Toy Yoda or an E.Honda.Second of all, examples are not meant to be taken literally. Just swap Hyundia cheapo CPO shitbox for any other in the market. Honda and Toyota cheapo shitbox Corollas and Civics can also be had among this price range, maybe for about $1,500 more.
>>28772229There is a disturbing lack of people in this thread calling you a fucking idiot for even considering buying a new vehicle at all with that wage.Holy fuck bro just save up $2000 and buy a shitbox.
