Do car dealerships always verify your income?
Do car dealers always verify your income when you apply for a car loan? I'm in the market for a car, but I'm also in between jobs. I should have a new job lined up soon, but I haven't had any income other than unemployment for three months.
Answer provided by
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.
“Yes, the dealership will certainly verify your income to see if you qualify for a car loan.
If you’ve been laid off but have a job on the horizon, just be straightforward. In some cases, they’ll still be willing to work with you if you pay a larger down payment or go through their financing department.
When you budget for a car, also keep in mind that dealers will require car insurance. To find the best deals on insurance, use the free car insurance comparison app, Jerry.”
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
When AAA comes to pick up my car, will I be able to ride home with the tow truck driver?
I have used AAA in the past and have been able to ride along with the tow truck driver, why would he tell her no? My girlfriend's car broke down the other day and she called AAA for assistance. She told me that the tow truck driver wouldn't allow her to ride back to the shop with him. Instead, he waited with her until her dad arrived to pick her up.
Jul 14, 2021
Will AAA allow me to schedule a tow for a future date?
I don't have time to have my car towed today, but will AAA let me schedule a tow a few days from now? My car broke down while I was leaving my parent's house today. They live on a private country road, so I know it is safe for a few days.
Jul 14, 2021