Because of the credit crunch and financial situation in the US, the lending guidelines have changed for most car dealers. Before, people with an income of $1,500 a month or more could get approved for a car loan.  The situation has since changed.

These days, car dealers will typically consider potential buyers who make at least $2,000 a month. If you are thinking about purchasing a car with auto financing and you make less than this amount, get a part time job, or wait until you get another raise before you apply. Applying prematurely and getting denied will only add a credit inquiry to your credit file, lowering your overall credit score (which would make it harder for you to qualify in the future).

If you are self-employed, be sure to file tax returns annually showing as much income as possible.  Some self-employed people will do whatever they can to hide income, especially cash payments such as tips, from the IRS.  When time comes for them to apply for a car loan, they soon realize what a grave mistake they made since tax returns effectively serve as your proof of income when you are self-employed and cannot provide pay stubs to a car dealer. (not to mention that hiding money from IRS is illegal)

Typically, rent-to-own car dealers will allow you to visit the lot to pick out a car you like and then make a down payment. Once the car is in your hands you will make rental payments on the car and each payment will be applied to the purchase of the car. When you make the last payment, the car is yours. These programs are very flexible and can approve virtually all applicants.

Most rent to own car programs will require the following:

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