Toyota Financial without Income Verification

[zepperhead89]

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@Brian_Earl_Spilner wrote:

The Work Number is owned by Equifax and is used for income and identity verification. I believe they also offer payroll services iirc. Toyota pulls all 3 auto8 along with CoreLogic and uses the highest one. IV isn't a problem if you can be verified. Being self employed may require it.

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By "being verified" do you mean having verified employment through The Work Number?

[zepperhead89]

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@BillSmiff wrote:

I am self employed (thus have various legal deductions that make my "take home" pay quite a bit lower than actual) and Toyota did not require POI when I took advantage of dealer incentives. It was the 3rd new car (Chrysler, Nissan) I have purchased in my life and neither dealership asked for any POI...I got the impression that the credit check was the end all be all for them...and me! 

Just my 2 cents to give you peace of mind. 

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Thanks for the input, what where your Auto 8 scores at the time? 

[TattnallTrio]

When I bought my Highlander he told me my Equifax was the highest at 695. According to my Experian App 695 is what it said my Equifax Fico 8 was. It's possible my Fico8 and Auto 8 scores are the same but not likely. 
The dealer Hard Pulled all 3 bureau's and only TFS pulled Equifax. I believe the finance director told them to use Equifax. 
We haven't mentioned it, I suppose the dollar amount financed may play a role. I financed $44k (after putting $3k down) and they didn't ask. Maybe on something more expensive they may or may not. 
I'd just go for it and seem like-warm during the entire deal and if you need to go home to get POI then change your mind. 

[zepperhead89]

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@TattnallTrio wrote:

When I bought my Highlander he told me my Equifax was the highest at 695. According to my Experian App 695 is what it said my Equifax Fico 8 was. It's possible my Fico8 and Auto 8 scores are the same but not likely. 
The dealer Hard Pulled all 3 bureau's and only TFS pulled Equifax. I believe the finance director told them to use Equifax. 
We haven't mentioned it, I suppose the dollar amount financed may play a role. I financed $44k (after putting $3k down) and they didn't ask. Maybe on something more expensive they may or may not. 
I'd just go for it and seem like-warm during the entire deal and if you need to go home to get POI then change your mind. 

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This certainly gives me a bit more confidence. I will be financing 36k after deposit. I do actually work part-time as a W2 employee but that hardly shows my entire income, just a fraction of it. Maybe if they can verify employment, plus proof of regular deposits from self employment I'll be in the clear. Here's hoping

[sccredit]

Being self employed has not had an effect in being asked for POI for me. I haven't been asked for POI since my scores were in the 500's 12-15 years ago. Even with a BK I haven't been asked.