Reply
Established Member
Posts: 22
Registered: ‎11-21-2008
0

Car allowance question

I am looking to purchase a home I'm the next 6 months. I got a promotion at work last sept, that came with a car alliowance. This is used for my car and insurance. My company does not claim this as income on my W 2. Will I be able to use this as income in my DTI?
Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: Car allowance question

highly likely no. Maybe if it was something you can prove that has been happening for a few years.

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Car allowance question

+1, you have to show you have gotten the allowance on a recurring basis. I have gotten a bonus in March every year for the past 5 years, so it counted as income.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: Car allowance question

I couldnt use my bonus.

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Car allowance question

That's weird. Was it reflected on your end of year paystubs?
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: Car allowance question

It was because I changed jobs, and they wouldn't count my bonus at my old company that I was getting.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.