Sep
26
Do bank give loans to people receiving unemployment checks?
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I just lost my job. I have been paying on a car and I need a 4 door cheaper one, I am selling mine and paying it off and I will only have 700 dollars for a new car. I will need to take a $1,000 dollar loan out. Will they let me I mean I have been making my payments and 1,000 isn;t that bad.
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4 Comments
November 3rd, 2009 at 11:53 pm
Most banks will not loan you money unless you can prove that you can pay the loan back.
Being unemployed and receiving unemployment benefits does not qualify you for a loan. You need to find a job ASAP.
November 6th, 2009 at 9:13 pm
It sounds doubtful, since you don’t have a job or a regular source of income (they don’t count your unemployment checks). While the interest rates will be higher, you may have to go through the auto dealer’s own finance program.
November 10th, 2009 at 1:01 am
Since unemployment is a temporary income, no bank will lend you the funds.Sorry.
November 12th, 2009 at 7:18 am
No job = no loan thats is just the way it is