@Anonymous wrote:
When you apply for an auto loan and provide proof of income with pay stub, do lenders verify those pay stubs or what?
I can only provide my own experiences, but the only time I've ever been asked for POI was when I bought a car right after my bankruptcy and had to use a lender who specialized in people with 'damaged' credit, as well as the times years ago when I arranged the financing up-front via Capital One (it used to be called their 'Blank Check' program, my understanding is that it's still around but called something else now). Capital One always required me to fax over my paystubs, which wasn't a problem (it seemed more like a 'check the box' thing with them).
Each and every time (other than the exceptions noted above) that I've made a purchase at a dealership my stated income was acceptable, i.e. no paystubs were required.
I'll also add that with the post-BK sub-prime loan mentioned above much more information than paystubs was requested, so if I had been less than truthful they likely would have figured it out.
