porsche526

Who offers financing with no tax returns … car being purchased from a small dealer

PorscheAddict

I've never heard of any lender requiring tax returns to finance a car loan. At most a pay stub or two, and if you have a robust credit history and score they usually don't even care about that. It's going to depend on your personal situation though. Credit unions are usually less hassle than banks in my experience.

Cur

Ditto.

Never been asked for a tax return... seems a bit ludicrous, to me.

+1 on the CU. I belong to 3 diff ones and they all had better offers than BoA / Citi (I just bought my car 2nd week of June).

Emefef

I've only ever seen tax returns required when the applicant doesn't have a confirmation of steady income from full-time employment.
Self-employed, consultancy contracts, that type of thing.
Of course it will also depend on personal credit history.

Ed G

I've heard that lenders sometimes ask for this when you are self employed but with good credit history I've never been asked. Sometimes I wonder about it as it seems you can put almost any number down for income. For a lot of us business owners, our incomes can fluctuate signficantly from year to year. I generally use a rolling 3 year income avg when financing anything. As long as you pay it off it doesn't really matter.

Agree with the credit union statement... typically lower rates too

Cuda911

I'm self-employed. Have never needed anything other than a credit report.

porsche526

Finalized the deal today…. 7.99. 60 months. These are differenr times

MingusDew

Yea, the Audi dealership let me drive off in the RS3 and all they did was a credit check and took my word for the income, no pay stubs, certainly no tax records. I sent them a check for the car the next day and paid the $0 down loan off immediately. No sense in paying these ridiculous APR if you don’t have to.

justabout

I refinanced a mortgage and didn’t need to prove my income. They told me what my salary was. I asked how did they know that and they said their company had access to a system that had my financial data. They would not elaborate.

BotterBuilder

That's really bad. I was offered a 6.49 at 84 months in April.

Cuda911

B of A lists their current rate for a used car as 6.49%.

Lots of places have better than 7.99.

JimEb

Ouch…guess I jumped on my car at just the right time. Ended up at 2.9% for 84mo.

DC911S

84 months? Wow, even at that rate if you go full term thsts lots of interest

iraz

Jesus, I just got 5.99 last week 36 months

JimEb

Always take the longest term. Reason is it gives more options. You pay it off early and pay less interest (which is always plan A) but if something happens in your life you can fall back to the lower min payments until you get things sorted.