Job Hopping Will Not Help You Get an Auto Loan

If you have a job and you’re planning on getting a car loan, you might want to keep that job. Don’t go hopping around from job to job because one pays ten cents an hour more and you think you’ll need that to get your loan. What you need to get your loan is stability. That’s true of where you live, but it’s also true of what you do for a living and how long you’ve been doing that job, especially if you’ve been with the same employer for a long time.

850338 airbag Job Hopping Will Not Help You Get an Auto LoanUnless you can take a job that is offering you considerably more than the job you have, just stay where you are. It’s important that you have a good job in order to get an auto loan, but job hopping won’t help you. Stability and responsibility will help you.

That doesn’t mean that you should never change jobs. People do that, because they move forward in their careers and they decide to take different paths. Sometimes they change jobs because they move or because a company that they work for goes out of business. However, changing jobs every few months because of boredom, because your friend works there, or for other reasons isn’t going to endear you to a car dealer or lender. You might still get financed but you’re probably going to need a larger down payment, and you’ll likely pay a higher interest rate than someone who has been on their job for a longer period of time.

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