It can be difficult to get a car loan even with good credit if all or part of your income is from a disability or SSI. Your chances can go be nearly nonexistent with bad credit. It is so difficult because your disability or SSI income cannot be garnished.
There are two situations that will entice a bad credit auto lender to consider loaning you money with disability or SSI income.
- If the applicant has garnishable wages. This is income from a job where you get a W-2. The more time you have been on the job and the higher your monthly income, the better it looks to a potential lender.
- The situation surrounding your bad credit can be considered. If you bad credit is recent and related to the medical condition that placed you on disability or SSI, you might still get a loan.
Getting auto loans for the disabled or with SSI income can be a hassle. Know your FICO score and try to have a side income that can be considered as part of the loan application.