Do car dealerships confirm your income with the IRS when you apply for a loan?
I applied for a loan at a car dealership. Now they want me to bring in pay stubs or 1099s. I don't know if this is normal. Will they verify this information with the IRS?
Answer provided by
Answered on May 05, 2021
“No, the dealership won’t call the IRS to confirm your income. They base their decision entirely off your pay stubs, 1099s, or other income-based documents.
This is typical of all auto loans, regardless of where you apply for financing. Don’t worry about it too much.”
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
What's the difference between replacement cost and actual cash value in a homeowners policy?
"I’m applying for homeowners insurance and all the different coverage options and terminology are making my head spin. Can you tell me how actual cash value differs from replacement cost? "
Apr 08, 2021
How can my son, 20, find affordable car insurance with a lousy driving record?
My son drives a financed 2013 Ford Taurus. He has two at-fault accidents and a ticket for running a red light on his record. Allstate is planning to drop him because he's a high-risk driver. What are we supposed to do now?
Apr 19, 2021