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Approval info needed

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Zz_JC_zZ
New Contributor

Approval info needed

Hey guys, I am thinking about getting a newer vehicle later this year. My question is about proof of income. My credit score shouldn't be an issue, all are in the 750 range. However I bartend for a living.... A job that pays $5/hr, but after tips it is obviously considerably more. That being said the paychecks I can show are for minimal amounts, and the majority of my $$ I am getting in cash. I actually bring In right around $3,500/ month.....but I don't have any sort of pay stubs to reflect that. Am I going to be able to get an auto loan?

 

I should also add that I just started this job on the first of the year, which is a big part of why I am going to wait until later this year. Would even 6 months of employment at the current job be enough to acquire a loan? I would be looking to finance in the $20,000 range, for a 2011-2012 vehicle. 

 

 

Starting Score (July 2013) Exp 665 Equ 658 TU 660
Current Score (Feb 2015) Exp: ??? Equ: 765 TU: 776


Amex BCE ($12,000) Discover It ($7,400) Cap1 Cash Rewards ($2,250) Cap1 Platinum ($4,500) Express Next ($1,450)
Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: Approval info needed

Not all auto financing companies ask for POI.  A lot has to with previous car loans and overall credit.  The 6 months for employment aren't a problem and if they ask for POI, what do you have to show from last year for tax returns?

Message 2 of 3
sccredit
Valued Contributor

Re: Approval info needed

Bring bank statements along with you showing the deposits of $3,500 a month, just in case

Message 3 of 3
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