Can you use a bank statement as proof of income for an auto loan?
Can I use a bank statement as proof of income? I run a business where most of my income is under the table. As a result, I don't really get pay stubs that I can use for car financing.
“Since you run your own business, you might be able to use a bank statement as proof of income.
If they won’t accept a bank statement only, put together a profit-and-loss sheet to show the gross and net income of your business.
This should help them decide whether to extend financing to you, especially if you’re self-employed.
Keep in mind the lender may ask for additional documents, so be sure to come prepared when applying for a loan.”
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
Can you lie about your income on a car loan?
Can you fib about your income to get a car loan? I want to buy a new car, but I'm worried that I won't have enough income on paper to do it.
Jul 14, 2021
Can you buy a car for 10% below MSRP?
Can you really buy a car for 10% off MSRP? My dad bragged about how he's gotten 10% off the MSRP of a new car in the past, but I don't believe him. Is this realistic, or is my dad exaggerating?
Jul 14, 2021