Q&A for How to Buy a Car Without Proof of Income

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Question

How can I get a car with no job?

Bryan Hamby
Professional Auto Broker
Bryan Hamby is the owner of Auto Broker Club, a trusted auto brokerage in Los Angeles, California. He founded Auto Broker Club in 2014 out of a passion for cars and a unique talent for customizing the car dealership process to be on the buyer’s side. With 1,400+ deals closed, and a 90% customer retention rate, Bryan’s focus is to simplify the car buying experience through transparency, fair pricing, and world class customer service.

Bryan Hamby

Professional Auto Broker

Expert Answer

Having good credit increases your chances of being approved. It's entirely up to the finance company or dealership whether to approve you for a car loan without proof of income. However, you'll be more likely to be approved if you have Tier 1 credit, or a 720+ score, and you submit your loan application with true and accurate information.

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Question

If a vehicle is a total loss, but I still owe the lien holder, will they roll over the amount due to a new loan contract or replacement vehicle?

Community Answer

It depends on your lender, but they probably will since it is in their best interest to do so to ensure that they get paid. Upside-down equity is also rolled into a new loan the same way.

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Question

I can't work due to a pending case for disability. I am getting support now for alimony for the next 10 months. Can I get approved for a loan?

Community Answer

This will depend on your credit score. You may use alimony as income if you wish, but if you fail to make payments, that will be listed as potential income to be garnished. Speak to your bank or credit union as they have their own policies for income requirements.

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How do I create and print a paycheck pay stub?

Community Answer

You should receive them from your employer. It will be the part of your paycheck that is above the check portion with your tax information (if you are paid via check). If you are paid via direct deposit, your employer should have them made available to you every pay period.

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Can someone with a lower credit score than me be a co-signer for proof of income?

Community Answer

The co-signer is mainly for credit score issues, not income. Some finance companies will approve the loan without proof of income if your credit score is high enough.

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