January 12, 2009
What car loan companies don’t ask for proof of income?
Josh S asked:
I’m trying to buy a 05 mustang for 20,000. I’m 19 and this the 1st car that i am financing. I have a 730 credit score. The only problem is with my proof of income. I am a waiter and all the money i make is in tips. Over the summer i worked for general motors and made 2,000 per month. So if worst come to worst i can use those pay stubs. But i was wondering what companies usually dont ask for proof of income.
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Comments on What car loan companies don’t ask for proof of income?
They all do. If they don’t there’s something is wrong.
I think even the most questionable places ask for proof of income, although how closely they check it is another story.
Try getting a quote online. You can usually take care of the whole thing without ever having to show anything in person, AND you usually get a better price online!
I would check progressive.com & esurance.com
You can customize your rates and its sooo easy! I have my z28 insurance with progressive.com
Good Luck, and be carefull in that thing. My friend had a Stage 2 Roush and it was wicked!
It doesn’t matter if you’re a waiter or not, you still have proof of income. You should still be recieving a pay stub. If you’re not, you should talk to your employer. My fiance is a waitress and she had no problem getting a loan with her paystubs. The only reason you would have a problem is if you’re not claiming everything you make, and you’re including everything you make on your finance app.
Even if they wanted proof of income, the older ones wouldn’t work. Finance companies usually require a recent paystub with Year-to-date figures.
With a credit score like yours, you shouldn’t need proof of income. That’s usually only required with lower score people that are considered a high risk.
Each lender is different…your credit score will help a lot with some lenders….some of these might come back as an Electronic Approval…..you just have to go to a reputable dealer and with this score you should get done with no prob lem….hell, contact me and I will get it done with no proof of income…..you just will have to go to a dealer and they will see about getting it done….good luck….like I said, if you are anywhere near Texas…contact me and I will get it done for you.