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Any car loan approval without income verification or proof of income?

Valued Contributor

Re: Any car loan approval without income verification or proof of income?

I've always had to provide proof of income aside from once. I bought a new motorcycle in April of 15, the credit union said to bring pay stubs but then when I got there they never asked me for them. They just wrote me a fat check and had me sign some papers Smiley Happy
Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?
Message 41 of 87
Established Contributor

Re: Any car loan approval without income verification or proof of income?

 With a 635 EX score (605 Auto FICO), I bought my car new, no money down ($500 rebate) at the start of 2015 (it's a 2015) with ZERO income verify. 

 

 Didn't have to provide check stubs or tax returns. Bank never asked either and they had two or three chances to do so. But they are a sub-prime lender and even have a 10 day grace period.

 

 I re-fi'ed in August of last year.

 

 

 

Message 42 of 87
New Visitor

Re: Any car loan approval without income verification or proof of income?

What was the name of the bank?

Message 43 of 87
Valued Member

Re: Any car loan approval without income verification or proof of income?

I just Got a new Mercedes Benz this past week. They didn't verify my pay stubs but wanted my 3 month bank statements that reflected my direct deposit of my pay checks.

Message 44 of 87
Established Contributor

Re: Any car loan approval without income verification or proof of income?

 Gateway One Lending an Finance, however they don't make loans to individuals. You can call them and possibly get a dealer list.

 

  I know two dealers that use them.


  Ford/Hyundai of Kirkland, Washington where I bought my Hyundai and Antelope Valley Ford in Lancaster, CA 

Message 45 of 87
Established Contributor

Re: Any car loan approval without income verification or proof of income?

I just got a BMW M4 convertible loaded for 95000 full financing from BMW at 4.2 for 72 months. Took vehicle and next day went back in with patelco credit union at 2.49 for 72 months. When I decide to open a checking and do auto payment from checking interest will be 1.9 did not ask for POI

Message 46 of 87
Established Contributor

Re: Any car loan approval without income verification or proof of income?


ImprovingYouth wrote:

Paperboy999 wrote:
I've never been asked at a dealer for income verification.

So you are telling me that you have NEVER been asked for W2s or paystubs when purchasing a vehincle. Please tell me where you bought your car so I can make sure to never go there...


I've purchased 10+ cars over the years and I've never been asked to produce pay stubs or income verification of any kind. The first time I purchased a car, the lender called to verify my employment but never verified the salary. 

Message 47 of 87
Regular Contributor

Re: Any car loan approval without income verification or proof of income?

HYUNDAI, TOYOTA and FORD just needed my employer's name and phone number on the application. Other than that, I didn't need to verify anything else except my proof of auto insurance.
I've been where you are trying to go and I don't wanna go back.
Message 48 of 87
Established Contributor

Re: Any car loan approval without income verification or proof of income?

I have never been asked to provide income verification. That being said, on Saturday I purchased another car, it is a year old. I received 3.90% and financed a total of $71,000, putting a few grand as a down payment. I believe that finance company is TD Auto.

Message 49 of 87
Contributor

Re: Any car loan approval without income verification or proof of income?

Never been asked. 2 weeks ago wife lease brand new BMW 3 series msrp of 55k, her Auto FICO is 800+. Last night I picked up my 2016 Subaru sti which was close to 40k, but financed 26k.

So this was BMW financial and Subaru motor finance (chase).
Cap 1 Venture 15k / 10k, Venture One 7.5k, QS1 4.5k, QS 4k, Barclay Rewards 1.8k
FICO 8 Scores: EQ 673 / TU 659 / EX 674 BK CH7 discharge 2011
Message 50 of 87