Do car dealerships have to look at your bank account?
Do dealers look at your bank account? I know that dealers check your credit, pay stubs, and verify your employment and residence. I had a few overdraft charges, and I want to make sure this doesn't disqualify me from a loan.
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Answered on Jun 29, 2021
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“Of the many items to bring to a dealer will need when applying for your car loan, statements aren’t commonly requested.
The dealer will sometimes look at your bank accounts to verify your income or help them decide if you’re a credit risk based on how much money you have in the bank.
If you have a great credit score, they might not even ask for bank account statements. That said, you don’t have to hand them over unless they’re specifically requested. You can monitor your credit score using the Credit Karma app.
So if you’re worried about it, don’t bring it up. Keep in mind that overdrafts aren’t going to directly get you rejected for a car loan, but they may not help.”
MORE: How to Buy a New Car
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