FederalAutoLoan.com is all about helping you get the loan you want for the car or truck you need. Our national network of lenders and dealers are experts in helping people with less than perfect credit get a car and the financing to enable you to buy it. But perhaps you’re uncertain whether or not you can qualify for a loan. Well the fact is that there are things you can do to help improve your chances of qualifying for a car loan. And while the list below is by no means exhaustive, it does give you some good ideas on how to improve your chances of getting a loan approval — even a bad credit car loan.

1. Have a stable employment record – and be employed when you apply.

Think about it… if you were a lender, would you rather lend to a person who hops from job to job or one who has a good record of employment with only a handful of employers over time? The answer is obviously the stable person. So if you have a job right now, do your best to keep it. In addition, it goes without saying that applying for a loan when you are not employed is probably not a very good idea unless you have a very extensive list of assets. And even then, being unemployed will probably stand against you.

2. Be on the job for at least six months… and a year is better.

Along with stable employment, lenders also like it when people have been on the job for at least six months (and a year is preferable). So if you have only been on the job for a short while, you may want to wait a bit to apply.

3. Cut the debt.

Unlike our government, you can’t borrow indefinitely. And lenders don’t like big debt loads. So if you have some capacity, consider cutting some of your debt load by paying off some of those loans. You’ll also do yourself a favor if you can pay off the high interest rate loans first. They are probably costing you a lot of money.

4. Have a stable living situation as well.

Lenders prefer borrowers who have lived in the same place for at least six months, and, like employment, they prefer at least a year. So if you just moved, you may want to hold off on applying for a car loan until you’ve got at least six months under your belt.

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