Helping for people with social security disability on getting a car loan

How you can get an auto loan with social security disability in this situation when it is almost a challenge to do it.

People with disabilities can access many of the financial products that banks and financial institutions currently offer.

In this article, we review some of these options and know the specific conditions that are established for these customers.

Some disabled people have the need to borrow for expenses that can not be made with the help or that they prefer to pay in different installments.

Many of the most popular banks have special plans for the disabled. Keep in your mind that they can have different options according to promotions and dates.

1974 to present SSI program helping several peoples. People like blind, aged, disabled.

Now it’s almost reached eight million people’s income source in the USA.

The people whom income source is like SSI or something like that, they face problem to get a car loan. Other programs are like following:

  • SSB (Social Security Benefits).
  • DI (Disability Income).
  • WC (Workers Compensation).
  • UB (Unemployed Benefits).
  • Pension.
  • II (Interest Income).
  • CFR (Cash from Friends and Relatives)The People are on social security. So the question is ¿why lenders have a problem with them?.

To get a loan, Incomes are a two-part category

1. Earned Income: From your job or business, you earned it will be considered as earned income.

2. Unearned Income: Without doing any work you earned will consider unearned income. Such as SSB, DI, WC, UB, pension incomes that mention I above am in the category of unearned income.

Lenders believe that if your income source is SSI or something like that, then it’s not enough to carry a car loan because some unwanted decision of government would be very effective for your own life.

This is the moment when you think that if you are not safe on SSI then how will a loan would be paid safely. The approval of your car loan will be very difficult if you are on SSI based.

So now the question is if you are an SSI based, ¿How you will get a car loan?

Don’t be hopeless. Let me give you some simple but working suggestion to pass a loan even you are on SSI. For approval of a loan, there are some facts.

If you are currently doing a job, ask lenders to consider you with your income of the job. Earned income also very big fact for getting a loan in this situation.

If your earned income is not enough to lenders monthly requirement. You can provide him by showing your current employment proof as like joining letter or last month’s salary history.

One more important thing that you should keep in your mind is that the higher expensive car you will choose, the lower your chance to get a loan.

So you need to choose an inexpensive car that lenders understand that with your low income it suitable for you. It will grow your chances to get it.

When you can pay total amount’s ten percent it will be very easy to get a car loan. It’s called down payment. As much as possible you pay them. It will convince for lenders.

If you have somehow enabled to repay your loan incidentally. You have to choose a Co-owner to take responsibility.  This one can be your spouse or children. It will reduce lender’s risk and you will have no problem with getting a loan.

Another option to ease your loan approvals is a cosigner. This one must have a good score of credits. If anyone has those requirements who assumed to be your chosen one it will be very easy getting a loan for you.

Before we continue, we remember that no one is actually disabled, each person has his abilities and gifts. You can be a person who does not listen very well, but then be for example a very smart person.

One of the advantages of the loans for disabled people is that when they receive very little help from the government, many of them have installments that can be paid in several years, for example, 5 years and with very acceptable amounts of money.

What are the credits used for people with disabilities?

The uses that can be given to it, are very varied. But then, some of the most usual examples, for which are intended such financing are:

  1. Credit for the adaptation of a vehicle: In many cases, it is necessary to resort to expensive modifications for cars that will be used by disabled people.
  2. Tools to hear better or see better: They are not usually very expensive but could be one of the reasons.
  3. Expensive medicines or treatments: Some diseases have very expensive professionals costs or medicines that are quite expensive, something very unfair and unlikely to all of us.
  4. Reforming a home: Another of the most popular causes is to be able to adopt a home, to make it more comfortable, easier and prettier.

Some countries have passed special laws so that the disabled can access financing services.

A law passed in Spain makes the disabled with access to mortgage loans. People who have a disability of 33% or higher can access reverse mortgages.

Keep in mind that it is not always necessary to go to financial institutions or banks in order to pay for certain products. For example, there are companies adapting homes for the disabled, which have their own funding.

The loans for people with disabilities are characterized by lack of interest and advance between 3,000 and 10,000 euros, with a repayment period ranging from one to five years, depending on the product contracted.

They do not charge commissions so they are one of the most interesting credit modalities, since it equates and even improves, the conditions of other social credits.


It is thought that the disabled can not access financial products which can offer a better quality of life. However, we see how some laws have ensured that a disabled person can also have the same right as any other person to request a mortgage or a loan.

If you need a car and it’s important for you then don’t do anything wrong which can create a problem with getting a car loan.

Remember, it’s hard to find a loan for SSI based people. Follow those rules that I mentioned before and hopefully, you will succeed.