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.

Answer
“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.”
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Eric Schad
Answered on Jul 14, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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