auto loan based on fico only?

[Anonymous]

can i apply for an auto loan w/o income verfication? Im self employed and dont wish to disclose income

[Anonymous]

My CU asked for my income and employment information (Where I worked, how long, what position), but never verified it. EQ was 601. I'm sure they'll ask for the income, because they also want to know your DTI, but they may not ask for verification. What's the worst that can happen? If they do, just walk.

[Anonymous]

If your scores are high enough you don't need to show proof of income.

[Anonymous]

My wife got a brand new 2008 Honda Civic a couple of months ago at 7pm at night and she put down where she worked, but they never verified it, because we left with the brand new car 2 hours later.

[Anonymous]

I financed 2 used vehicles at the same time @ my bank back in 02 pif 06 at the time they did not verify my income or my job  nothing approved me on the spot. Before then I have purchased 6 new vehicles they verified only the first vehicle financed my credit then was horrible 17% interest ouchhh. glad those days are long gone. As best my memory serves me not even credit card companys has ever checked or verified anything for the last 11 years I am employed with a family business you would think I may come under some scrutiny nothing.

[ChuckG]

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@Anonymous wrote:

My wife got a brand new 2008 Honda Civic a couple of months ago at 7pm at night and she put down where she worked, but they never verified it, because we left with the brand new car 2 hours later.

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This doesn't necessarily mean that they didn't verify it. In many states, dealers have the right to let a car go based upon an "assumed approval"... after your loan goes through at the bank or through whatever verification process they want to put it through, they can still decide after the fact that you aren't really qualified and ask for the car back, or the $ in full.

[Anonymous]

Technically until the loan funds they can take the car back (except for a few good states who actually have laws making it illegal to renege on a deal due to financing)

In my 3 car purchases in the last 3 years I have never had a dealership verify income....

[Anonymous]

I've never had a dealer verify employment. I've always signed the paperwork, and drove away. I do have very high FICO's. 790's, and my "auto enhanced FICO" was 800 when I bought my newest car last year.

[islandchild82]

Capital One didn't verify anything for me, besides a copy of my license to verify address and identity.

[Anonymous]

Infiniti didn't ask for income verification... I told the guy I make $4000 monthly and he put down $4500 lol