Wednesday, May 26, 2010

I want to take out a car loan but..?

..how many months or years do i have to show that my wages is getting paid into my bank account?.. the reason why i am asking is because i need to loan the money as soon as possible... thanks



I want to take out a car loan but..?

Auto finance is what I do for a living and it all depends on your score and profile.



If your score and profile are average or above, you will not have to prove anything.



If on the other hand it's not, it will then depend on the lenders guidelines. Some require 2-years of tax returns, others only require a recent paycheck stub.



The only way to know for sure is to go to your dealer and let them tell you. Without looking at your credit no one here can actually give you a accurate answer.



I want to take out a car loan but..?

Welcome car finance ask for 2 months proof xx



I want to take out a car loan but..?

I dont think it matters. I was only working from november and got one in january last year...



I want to take out a car loan but..?

As long as you have a permanent job, not a short term contract, I don`t think it matters providing you have been their a couple of months.The loan will probably have insurance built in should anything befall your position in the future.



I want to take out a car loan but..?

Some car loan companies don't even ask for proof of income, as they all check your credit report. Although some still request that information for verification purposes or so that they may consider your application more thoroughly.



Even if they do, some only ask for the recent or upto 3 months worth of your documents.



Also if you are buying a new car, check if their financing deals are good which may end up being better than your car loan.

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