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I'm facing a sudden income decrease; can I still buy a car?

• Updated

If you're experiencing a sudden decrease in income, it's important to carefully think about your financial situation before buying a car.

You may want to consider whether buying a car is a necessary expense at this time or if alternative options are possible. If you still decide to purchase a car, you can explore options like affordable financing or think about buying a used or more budget-friendly car.

It's also important to be transparent with lenders about your changed financial circumstances.