EMPLOYMENT or INCOME REQUIREMENTS
Normally the very minimum requirement for approvals are that you make at least $1650 per month. This monthly income is the total amount before any deductions or taxes are taken off by your employer (ie. tax, CPP, EI, etc).
Here’s a quick breakdown of the very minimum requirements, depending on how you get paid:
- Hourly: At least $10.25 per hour for 40 hours per week, or equivalent.
- Weekly: At least $410 per week (before deductions).
- Bi-weekly: At least $825 every two weeks (before deductions).
- Twice per month: At least $880 twice per month (before deductions).
- Monthly: At least $1650 per month (before deductions).
Although these are the typical minimum income requirements – Dodge Credit has programs across North America for people who have income that don’t meet the minimum requirements or may come from government assistance programs. Sometimes the approval may take longer, most of the time we are able to help these people too.
Car Loan Requirements
- Driver’s License : You must hold a valid driver’s license. In some cases this can be a “learner’s” license.
- Minimum Age : The minimum age is either 18 or 19 depending on your province or territory
We work with consumers with good, bad or no credit. This includes people who have been through bankruptcy or even had a past repossession. If you have had a vehicle repossessed twice or more in the past 7 years then chances are we cannot help.