Helping for People With Social Security Disability on Getting a Car Loan

car loan social security disability

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 established for these customers.

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

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

The truth is that today it is not so involved to obtain a personal credit for the disabled, especially if we take into account that every person with a disability receives a pension after presenting the national or provincial disability certificate, this, in many cases, serves as a document to credit income and thus be able to process loans.

Thanks to this pension, it is possible to access a personal loan in banks and financial institutions, although the truth is that there are not many specific lines directed to this sector.

So, like the rest of the clients, they should compare the options of personal loans available, analyze them and evaluate the one that is within your reach and is more convenient.

It is important to clarify that there are also many subsidies and initiatives promoted by the Government with the aim of providing support to people with disabilities. Currently, there are 24 current programs, covering, among others, topics such as accessibility, transportation, education, health, work, sports, and culture.

Provincial and municipal governments, civil society organizations and individuals from all over the country can submit projects.

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.

Acquiring a vehicle for people with disabilities or reduced mobility is not a complicated process, according to specialists. They are vehicles exempt from taxes such as tariffs and ICE (Tax on Special Consumption).

You have to know precisely how the purchasing system works and what steps the person should follow, this is what the dealership says, one of those that sells cars with the exemption for this type of customers.

Some of the points to consider are:

  •  Only one car can be imported once every five years;
  • The vehicle acquired with exemption cannot be sold for five years, counted from the date of its nationalization.
  • The possession of the car is only allowed for the direct beneficiary and his family members in case he can not drive on his own.

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, your cash in defines as earned income.

2. Unearned Income: Without doing any work you won 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 unpopular decision of government would be efficient for your own life.

This moment is when you think that if you are not safe on SSI, then how will a loan 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 practical but straightforward 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 colossal 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 straightforward 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 effortless getting a loan for you.

Before we continue, we remember that no one is 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 brilliant 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, five years and with very acceptable amounts of money.

What are the credits used for people with disabilities?

The uses that can be to it are very varied. But then, some of the most typical 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 costly professionals costs or medications 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 home, to make it more comfortable, more accessible 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 to pay for specific products. For example, there are companies adapting homes for the disabled, which have their 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 exciting credit modalities, since it equates and even improves, the conditions of other social credits.


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 the particular situation 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 crucial 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.