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can i get loan with no proof of income?

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New Contributor

can i get loan with no proof of income?

i was looking into getting a small loan maybe 5000-7000 for a car !! i currently have a score in the mid 600s my credit file is pretty thin with $2700 in revolving credit and no cards being older then a year...... the car is 12000 and i have 5000 as down payment.....are there any lenders who are more lenient on self employed applicantseith no preof of income?? any helpful feedback is appreciated
Message 1 of 17
16 REPLIES 16
Valued Contributor

Re: can i get loan with no proof of income?

At a dealer?

Ch 7 Discharge 3/12/2018
Cap One QS1 $3,500, Wayfair $5,000, Blaze MC $3,000, Kohls $1,000
Infiniti Financial lease

Message 2 of 17
New Contributor

Re: can i get loan with no proof of income?

anywhere really... its a used car so i dont really know how the financing goes.... i was thinking my bank would but i heard its diffiult getting approved with no proof of income... and credit file being so thin doesnt help😑
Message 3 of 17
Valued Contributor

Re: can i get loan with no proof of income?

You can normally use bank statements

Ch 7 Discharge 3/12/2018
Cap One QS1 $3,500, Wayfair $5,000, Blaze MC $3,000, Kohls $1,000
Infiniti Financial lease

Message 4 of 17
Epic Contributor

Re: can i get loan with no proof of income?

Where is the car? or have you not found it yet?

Do you have a Carmax near you if you have not found the car yet?

 

I suggest instead of flat out saying self employed list your company as your employer and give yourself a mangement title of some sort... it causes less questions to be asked but certainly if they want more proof then you will have to see about using bank statements and such but really if you are at a dealer they usually really don't want to ask you more than they have to because it's more things that you could then not be able to provide and they loose the sale and I always feel like the second "Self employed" is stated or listed on an application they then have to ask more questions.

Message 5 of 17
New Contributor

Re: can i get loan with no proof of income?

thats genius !!!!!! but i have no w2s or paystubs would that be problem you think?
Message 6 of 17
Epic Contributor

Re: can i get loan with no proof of income?


@chinky93 wrote:
thats genius !!!!!! but i have no w2s or paystubs would that be problem you think?

1. have you found the car?

2. if not, do you have a carmax?

Message 7 of 17
New Contributor

Re: can i get loan with no proof of income?

i know what kind of car but not exactly from which dealer just yet... and i dont have a carmax
Message 8 of 17
Epic Contributor

Re: can i get loan with no proof of income?


@chinky93 wrote:
i know what kind of car but not exactly from which dealer just yet... and i dont have a carmax

if you are looking to stay between $10-$15k but are putting $5k down I doubt they will ask you any questions.

Message 9 of 17
New Contributor

Re: can i get loan with no proof of income?

thanks man u brought my hopes all the way up......my last question for you... so where will the remaining balance come from? the dealer or some sort of bank? either way will it show on my credit report (first time buyer)
Message 10 of 17
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