@linux007969 wrote:
When i apped for my loan with PNC i used my net income especially since they already have it on file from my credit card with them.
What is the reasonable answer for using gross income for a loan when its misspresentation of how much you make and it is a federal crime to lie on any credit app of any kind?
Not sure I'm on the same page.Just to be clear, I am not enouraging or condoning anyone to lie. If it asks for net take-home income, I'm not saying you should put gross at all.
But are you asking why I said one should generally use gross income on auto applications? Well, simply put, in my experience 99.99% of auto loan applications explicitly ask you for gross income. I, to be honest, have never seen an auto loan app that asks for net income (and I've seen a lot of forms). It's not a misrepresentation (nor is it illegal) to put down gross income on the application when they ask for your gross income. If an auto loan app asks fo just income, then it's debatable, and I'd argue neither gross or net income in that field would be a misrepresentation. As an example, feel free to call (or go talk to in person) a PNC banker about their auto application. Ask them whether they allow you to put gross income on the auto app. I'm pretty much willing to bet they will say that's what they expect you to put unless the app explicitly states net income.
I don't think what you did is wrong (ie putting net income). But at the same time, putting gross income when an auto app asks for gross income is not a misrepresentation of any kind.
