Which auto loan companies do not require proof of income

[disdreamin]

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@sccredit wrote:

The market is crazy right now. Between February and November of this year we have bought 3 cars.

First was in February and we paid $12k OTD for a CPO Hyundai Accent. Carvana will give us $19k for that car now.

You are so right, both the vehicles I purchased this year are worth more as used vehicles than I paid for them new. It is good to be flexible, and most people will probably need to be willing to expand their search area, as you said. Shipping a vehicle can save a ton of money if you find a dealership willing to work with you.

If someone has a specific vehicle in mind and is willing to wait a bit, I would encourage them to consider special ordering. Many dealerships cut better deals for special orders since they know it's sold in advance.

[pauldc73]

Was this an unintentional typo by TFS?  Surely Toyota Financial should know how to spell Highlander

[Anonymous]

Chase didn't require proof of income when I refinanced my car from a lease purchase, that's was about 2 years ago with a score in the 700s.

[Bourne]

Thank you everyone. I gave up on buying new. There is just too long of a wait, and I need a car now. So I turned to pre-owned. New car dealerships are out of their minds. All kind of inflated prices and tacked-on fees that I had no patience for. So I focused on CarMax, Autonation, and Carvana. 

I ended up buying a 2016 Rav4 with 70k miles for $19,9. Still an inflated price, but it's way better than what I've been seeing at traditional dealerships. Chase came through with instant approval. Rate was 3.99% with no proof of income required. While I'm happy about the latter, I'm a bit disapointed about the former. They showed me what they pulled. A TU score of 810! I would've thought I would get a better APR than that, but all good. I can refinance later if needed. 

Thanks again!

[jmw1]

Crazy.... $20k base price for a 6 year-old car.  I'm sure glad I don't have to buy a car.  

[disdreamin]

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@pauldc73 wrote:

Was this an unintentional typo by TFS?  Surely Toyota Financial should know how to spell Highlander

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I wondered that too  - I googled Hylander to to see if that was TFS-speak for a hybrid Highlander or something.

[disdreamin]

@BourneI'm glad you got the vehicle you needed, but ouch on that price. I am sure it's not a bad price in this market, as I know you did your homework, but holy heck does that seem a bit ridiculous for that old a vehicle with that many miles on it. As far as your APR, it doesn't sound bad, tbh. I just checked my CU and found their loans were anywhere from 2.5-4.5 depending on the term of the loan. I hope you enjoy your new Rav and it holds up well for you.