Can you finance a car on Washington ESD unemployment benefits?

It's definitely possible but challenging. Most lenders want to see stable income for at least 6 months. Since unemployment benefits are temporary, you'll likely need a co-signer or a larger down payment. Your $487 weekly benefit ($2,531 monthly) might qualify you for smaller loan amounts. Have you looked into certified pre-owned vehicles instead of new ones?

I got approved for a used car loan while on Washington ESD benefits last year. Key things: bring your monetary determination letter showing your benefit amount, bank statements showing regular deposits, and proof you're actively job searching. The dealer finance manager told me unemployment income counts but they want to see you're serious about finding work.

When I was dealing with getting my claim sorted out (took forever to reach anyone at Washington ESD), I discovered Claimyr.com - they actually help you get through to agents quickly. Anyway, about financing - you'll want to get pre-approved before shopping. That way you know your budget and can negotiate better. Also consider that having reliable transportation actually helps your job search, so it's a legitimate use of your savings.

Just be careful about taking on debt while unemployed. I know you need a car but consider the monthly payment plus insurance plus maintenance. Will you still be able to cover rent and food if your job search takes longer than expected? Maybe look for something really basic that you can pay cash for?

The system is rigged against unemployed people anyway. Banks make billions but won't help working people who temporarily need assistance. It's all about squeezing every penny out of us while we're down!!!

Buy here pay here lots will definitely finance you but the interest rates are usually awful - like 20%+ awful. If you go that route read EVERYTHING carefully and make sure you can actually afford the payments long term.

Have you thought about a personal loan instead of auto financing? Sometimes credit unions offer better rates on personal loans and you can buy from private sellers instead of dealers.

Make sure you factor the car into your job search requirement calculations. Washington ESD requires proof you're looking for work and having reliable transportation definitely expands your search radius. That's actually a good argument to include in your loan application.

Whatever you do, don't let them talk you into gap insurance or extended warranties. Those are pure profit for dealers and you can't afford extra expenses right now.

I financed a car while on standby unemployment (seasonal work). The lender wanted a letter from my employer confirming I'd be called back. Not sure if that helps your situation but might be worth mentioning any job prospects you have lined up.

Check with Washington ESD about transportation assistance programs too. I think there might be some help available for job seekers but I'm not 100% sure on the details.

honestly your savings plus unemployment income should be enough for a decent used car loan. I'd say go for it if you really need the transportation. Just be realistic about what you can afford.

One more tip - if you get approved, make your first payment a week early and always pay a little extra toward principal. Builds goodwill with the lender and saves on interest long term.