How Dealerships Can Approve Car Buyers with Unemployment or Fixed Income

car key fob next to hand signing paperwork

Income status is one factor that is considered when approving a potential car buyer for auto financing. Since income plays a key role in a car buyer’s ability to get approved for financing, those with unemployment or fixed income often get denied credit approval to buy a car.

Having auto financing options available for every customer can help your car dealership offer more credit approvals and ultimately increase car sales!

The Credit Acceptance auto finance program enables enrolled car dealerships to provide written approval to consumers with unemployment, self-employment, or a fixed income, bad credit or no credit, and more.

Here’s how your car dealership can approve unemployment or a fixed-income car buyer:

  1. Enroll in the Credit Acceptance subprime auto finance program.
    Car dealerships enrolled in our program can provide written credit approval to every customer who walks into their dealership, enabling them to serve more customers, sell more cars, make more money and help car buyers purchase an affordable and reliable vehicle that meets their needs.

  2. Educate car buyers with unemployment or fixed income on their auto financing options.
    You want to make sure that every customer knows they can receive credit approval to buy a car through your dealership, regardless of their credit history or income status. Enrolling in the Credit Acceptance program places you in the position to educate unemployed, self-employed or a fixed-income car buyer on their auto financing options and offer them a solution to buy a reliable car on credit.

  3. Enter every application into our proprietary Credit Approval Processing System (CAPS®)
    Generate an approval on every new or used vehicle for every customer, regardless of bad credit or no credit history. With CAPS, you can easily structure deals that are profitable to you and affordable for your customers.

Credit Acceptance works with more than 12,000 franchise, independent and BHPH car dealers across the nation to help them sell more cars and make more money. Last year, we paid enrolled dealers nearly $4 billion in total funding and $180 million in Portfolio Profit.

If your car dealership is looking to increase its car sales by offering more credit approvals, fill out the Become a Dealer form to learn more about the benefits of joining our auto finance program.