Can You Get A Car Loan With A Temporary Job?

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Dan Quayle quotes, “You have a part-time job and that’s better to no job at all.” There are some misconceptions about whether or not you can get a car loan with a temporary job. Having a job gives you a sense of security and it allows you to manage your day-to-day expenses and pay your bills easily. A part-time job or a temporary job is taken up by students, immigrants, or refugees, and also other people who either need to make an additional income or wish to work to gain some experience in a particular field. 

Having a permanent job is not the only factor considered by lenders when you apply for a loan. If you are a part-time or temporary worker and you need a car, you can qualify for a car loan for the same. A good credit score will be of help when you apply for a car loan. In this article, we will be sharing with you all the required details about applying for an auto loan as a temporary worker like the interest rates charged, loan tenures, eligibility criteria, and also bad credit car loans.

Can I Get A Car Loan With A Temporary Job?

To simply answer your question, yes, you can get a car loan with a temporary job. How can you get this loan and what are the requirements that are set by lenders, let us give you a brief idea of the same before we dive into the details. Lenders have to run a thorough check of your past finances, credit scores, and your employment background before your loan application is approved. This is done to ensure that you meet the eligibility criteria and qualify for the loan. It helps the lender in knowing that you will not end up as a defaulter and will complete your repayment in time. These factors also help in determining the car loan interest rate that you will pay and the maximum amount for which the loan can be given to you. The best time to apply for an auto loan as a temporary worker is when you have worked for at least 3 months and you can meet the average income requirement of sound $1,800. If you are unable to meet any particular requirements, you can get a loan with a co-signer who can assume the responsibility of repaying the loan amount on your behalf if required. 

Minimum Monthly Income For Auto Loan

If you have a temporary job or bad credit, you can avail of bad credit car loans. What you have to note is that a loan will be provided to you but the eligibility criteria can be a little hard to meet. The loans will be offered by subprime lenders whose eligibility requirements will be more than traditional lenders. One of the requirements that you will have to particularly meet is the minimum monthly income for auto loan. The minimum income required varies from one lender to the other but it ranges between $1,500 and $2,000. Why is your income one of the most important criteria for lenders to approve your loan? Having a stable source of income and a minimum monthly income will help assure the lender that you will be following a consistent payment schedule and not miss your repayment dates or fail to repay the loan. 

How To Get A Car Loan With A Temporary Job?

By now you would have figured out whether or not you qualify for the income requirements of the lenders or car dealerships from where you plan to borrow a loan to buy your new car. In case you cannot meet the minimum monthly income for auto loan, there are other factors as well that might be considered by the lender. Here are some tips for you to get a car loan with a temporary job:

  • You can apply for a loan amount below the maximum amount. Always consider your financial situation and your budget to ensure that you can pay what you borrow.
  • Temporary jobs are considered risky by lenders. Getting a letter from your employer might help strengthen your chances of getting a car loan.
  • Try applying with the bank where you have your savings account and good past relationships. This can help you get your loan on the basis of your past payments as well.
  • Apply for a car loan with a co-signer. The co-signer for a car loan requirements includes a person with a good credit score who will be willing to assume the responsibility of repaying the loan amount if you default.  
  • Prequalify with multiple lenders before you make a final choice. This will let you know where you stand and how you can improve your chances of getting a loan. 

Improve Your Chances Of  Getting A Car Loan As A Temporary Worker

How can you improve your chances of getting a car loan if you have a temporary job? In the previous section, we looked at how you can get a loan with a temporary job or a temporary job and a lower credit score. If you are purchasing a car, one of the best ways to get your loan approved at a low car loan interest rate is by making a down payment. What is a down payment? How does it benefit your car loan application and what is the required down payment that you must make to qualify for a low-interest loan? Let us help you understand the same. 

The amount that you pay your car dealership upfront right at the time of the purchase is known as a down payment. Paying a large portion of the price of the car as a down payment increases your chances of getting a car loan and helps you borrow the amount at better car loan rates. The total amount that you repay is far less than it would have been which helps you save money. There is no particular amount that should be deposited by you as a down payment. You must consider your financial situation, the terms and conditions applied by the lender or dealership, and the interest rates that you are offered before you decide on how much you pay upfront. Generally, the higher your down payment is the lower your monthly installments and the amount you pay as interest will be. 

Other benefits of borrowing a car loan by making a major down payment include higher chances of your auto loan being approved, better equity on your new car, and manageable debt that will possibly not impact your credit scores negatively. So if you have a temporary job or bad credit, a down payment can be highly helpful in borrowing your auto loan and also getting better interest rates. 


When borrowing a car loan, Canada has multiple lenders, banks, online loan providers, and dealerships that offer you various options for financing your car. If you have a temporary job, you can still apply and qualify for a car loan and get the car of your dreams. There are certain eligibility criteria that you need to meet in order to get your car loan approved. In this article, we have shared with you all the requirements for a car loan as a temporary employee. We hope this information will help you get an overall idea of how this loan works and how you can apply for the same. 


What’s the minimum employment time to get an auto loan?

The minimum employment time to get an auto loan in Canada is around three to six months. If you have a strong credit history and a high credit score, this requirement might be waived by the lender.

Can a new employee get a car loan?

Yes, new employees can get a car loan if they qualify for the loan by meeting the other eligibility criteria. 

How can I get a car with a temp job?

To get a loan with a temp job, you need to apply for a loan where you can easily meet the eligibility criteria. If you have a good credit score and a solid credit history, you can get your car loan approved even if you have a temp job. 

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