Do Auto Loans Require Income Verification?

Discussion in 'Professional Trading' started by aeliodon, Jul 21, 2008.

  1. I filed a 1099 last year. I am a retail trader.

    If I'm putting 0-20% down on car that costs over 40k and depreciates fast or if I have a bad credit score/history then I can understand being asked for tax returns and bank statements.

    But if I have great credit and I'm putting 50% down on an average car then its should be less of a hassle than a credit card application since the car is collateral.

    I guess prop traders that get K-1s have to deal with the same issue since they don't get pay stubs and aren't technically employees either.
     
    #11     Jul 21, 2008
  2. ssblack

    ssblack

    Yeah, if you really have an 820, it won't be any problem whatsoever.
     
    #12     Jul 21, 2008