topic Re: could it happen? in Auto Loans

could it happen?

Anonymous — Sun, 24 Feb 2013 09:32:29 GMT

Is there anybody that ever had such a high credit score u didnt have to show a paystub for a car loan? Or could it happen?

Re: could it happen?

rbtextreme — Sun, 24 Feb 2013 12:07:56 GMT

It happens all the time. I managed a motorcycle shop in Florida for years. Had a guy walk in and want 2 choppers ($100k), pulled credit and he had a high of 800, GE would allow me to auto approve him (or anyone above a 720) without them having to take a look at anything.

Re: could it happen?

ds3 — Sun, 24 Feb 2013 16:16:07 GMT

I have financed 2 cars with VW Credit in the past 4 months with a score of 670, and never had to show a paystub or any other proof of income.

Re: could it happen?

BlueHusky — Sun, 24 Feb 2013 16:24:28 GMT

I was instantly approved with BoA online a few days ago and the woman said all she needs to see is my purchase agreement...and this is even after I put in "1 month" with current employer and was approved for the lowest rate (2.09% for 72 months) at the full amount I asked for. My score is 774 according to their Equifax pull though.

Re: could it happen?

CribDuchess — Sun, 24 Feb 2013 19:30:31 GMT

I financed a brand new Acura at 0.9% for 60 months with American Honda Finance last August. At the Acura dealership, I was prepared to provide paystubs since I've never financed through Acura/Honda before. I pulled them out of my purse to offer them and the finance guy told me they weren't needed. He didn't even look at them. They pulled an EQ score of 777.

I think if your score is high or if you have financed through that lender previously with no negative marks, chances are that they won't want to see proof of income. But as always, YMMV.

Re: could it happen?

Epcot — Sun, 24 Feb 2013 21:57:54 GMT

In my many vehicle purchases/leases I have not had to show any form of income. And my scores ranged from mid 600's to high 700's. Never asked for anything. I have financed through Capital One blank check and dealerships.

Re: could it happen?

Mike360 — Mon, 25 Feb 2013 00:15:57 GMT

I only make $23K / year and i didn't have to show any proof of income when i purchased my new car last month thru Hyundai with a 723 EX. 2 years prior when i tried to get a Corolla S they did want paystubs. I had high DTI and mid 600's score so maybe that was why.

Re: could it happen?

fishbjc — Wed, 27 Feb 2013 15:10:32 GMT

I have NEVER had to provide a pay stub.

Re: could it happen?

Anonymous — Wed, 27 Feb 2013 19:10:49 GMT

I have bought many many cars. I have had to show a paystub one time. This was when I bought a car 4 weeks post BK 7 Discharge. All other deals I have not had to show any proof of anything.

Re: could it happen?

Anonymous — Wed, 27 Feb 2013 19:17:01 GMT

Last 3 months of pays tubs with Dcu here.

Score mid 700s

Re: could it happen?

tooleman694 — Wed, 27 Feb 2013 19:42:03 GMT

After I got my scores up I never had to provide them for an auto loan or lease. When my score were low I did.

Re: could it happen?

dodfire — Wed, 27 Feb 2013 20:17:44 GMT

I do not think I have ever shown a paystub....When I bought my Audi my scores were only in the low 600's and I was in Afghanistan at the time. Did the whole process over the internet. So, to answer your question....YES it could happen!!