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Can you trade in your car without having a job?
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Can you trade in your car without having a job?

I just got out of the Navy and go to school full-time. My car is undrivable and unreliable. I need a new car, but my only source of income is the money i get to go to school... I have never missed a car payment in years. Is this possible to trade it in for a new one?


Dealers don't really care where your income is coming from or what it's used for. They just want to make sure that you do have a reliable source of income before trying to get you a loan. Try to find a car with no monthly payments. A dealer can help you get what you need

Yes, you may have to buy a car from the dealer to do so.

If you have good credit they can help you out

Larry E
That's the first thing they are going to ask you is what's your income.With the way our economy is I doubt if they will give you a loan.

betotron don
job has nothing to do with buy/sell/trade/donate//etc of your car

How can you pay for a new car if you don't have any income except for school money? It might be hard to get a loan without any income... Can't you pay a friend to fix some of the things on your car to make it okay to drive? You can try to trade it in, no harm in that. Just don't go crazy and buy a new car. I would buy a used car if I were you. Once you drive a new car off the lot it loses about 20% of its value.

Edmunds: He pointed out that cars depreciate very quickly when they are first sold. Drive a new car off the lot and it can lose 20 percent of its value. Everyone knows that, right? So where's the secret?

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