I was digging through the Federal Reserve website, but I couldn't find anything regarding how long you actually need to be employed to qualify. Has anyone here dealt with this before? I'd love to hear about your experience if you have any insight!
I was wondering if I could qualify for an auto loan at the Federal Reserve for a new car. I’m planning on putting down a 20% down payment and taking out a special balloon payment at the end for 25% of the total value. My income should meet all their requirements, and I have a co-signer ready to go. The catch is that while I have a permanent contract, I’ve only been with my current employer for about five months. Is there a chance they might turn down my application because of that tenure?