no income verification auto loan?

Discussion in 'After Hours Lounge (Off Topic)' started by Christ Reynolds, Dec 1, 2003.

  1. Christ Reynolds

    Christ Reynolds Producer

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    i know of the mortgages, but are there places that offer NIV auto loans? the reason i ask is well, i would have trouble verifying my income, and i need a car. if you have REPUTABLE links, i'd like to see them. there are plenty of shady outfits on the internet for getting loans...thanks for any info.

    CJ
     
  2. Tim Markley

    Tim Markley Screenwriter

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    I financed my last vehicle purchase through PeopleFirst.com. They're actually part of Capital One, so they're a big bank. I didn't have to send them proof of anything and they were very easy to work with.
     
  3. Christ Reynolds

    Christ Reynolds Producer

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    cool thanks for the link, i will check it out. question though, do you think you got a higher rate because you didnt (or didnt have to) verify your income? anyway, thanks very much.

    CJ
     
  4. Christ Reynolds

    Christ Reynolds Producer

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    also, would there be adverse effects if i applied for a loan and was turned down? for example, i'd like to get a loan without a cosigner. i'm not sure if it is possible for me, but if it is, i'd like to do it. say they turn me down, would this affect negatively on my credit report? and and another thing, what if i applied for a loan and was approved, but then i couldnt find a car i wanted or i held off on the loan for financial reasons, maybe i couldnt afford to get the loan for a month or two. any negative effects there? i'm a newbie to all things financial. thanks much.

    CJ
     
  5. Joe Spratley

    Joe Spratley Stunt Coordinator

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    I got a loan through Car Max which I believe is owned by circuit city. Anyway I put $5000 down on a $20000 vehicle and I didn't have to provide any documentation. The bank is Wells Fargo.
     
  6. Tim Markley

    Tim Markley Screenwriter

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    Christ - No, the interest rate wasn't any higher. One of the reasons that I went with PeopleFirst was because of the low interest rate. I really didn't care whether they validated my income or not.

    If you apply for a loan and are turned down, there's no adverse affect. Your credit report simply shows that someone checked your credit. Exactly the same thing as if you were accepted for the loan.

    If you are approved by PeopleFirst, they send you a check that's good for a certain amount of time. When you use the check, the loan takes affect. If you don't use it before the expiration date, there's no loan agreement.

    Let me know if there's any other questions I can answer for you.
     
  7. Win Joy Jr

    Win Joy Jr Stunt Coordinator

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    When I bought our Windstar we fianced it with Ford Credit, and there was no income verification...
     

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