Why did my car lender ask for my divorce agreement?
I've been divorced for over 10 years, but when I went to purchase a new vehicle, the lender asked for my divorce agreement. We don't have any outstanding commitments and I have excellent credit. Why did they ask for this?
“Different underwriters have different criteria for loan verification. It could be that they needed to confirm you don’t have any outstanding alimony, or because your debt to income ratios are cause for concern.
Trust in the process. In all likelihood, it’s just part of the typical underwriting process for purchasing a new vehicle with that particular lender.
Don’t forget that when you buy a new car you will also need proper coverage for the vehicle. The free Jerry app compares rates from the top providers and delivers the best deals to your phone in minutes.”
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