How To Get An Auto Loan When You Can't Prove Your Income You Are Self Employed

The truth about getting an auto loan when you have bad credit are self employed and can't prove your income is pretty harsh. The fact of the matter is that when shopping for an auto with bad credit you are already set at a disadvantage. If you where to walk into to your average automobile dealership tell them that you have a 560 fico credit score and your self employed and can't verify your income or employment chances are they are going to tell you to take a hike. In most cases customers shopping for an auto loan that have bad credit is they go the wrong dealerships or to the wrong banks and are told they can't be financed because of their credit or their lack of job verification.

The problem with having bad credit and trying to get an auto loan when you can't prove your income is that the average dealer or finance lender is not use to seeing that type of situation or they believe it will be to much work to get that type of customer approved so they would much rather tell you that they can't help you. The fact that you have bad credit and can't prove your income is not the end of the world and doesn't mean that you can't get approved for and auto loan. The main thing that a customer that have bad credit and can't prove their income need to do is get in touch with a Auto Dealership that has a Special Finance Department.

What is a Special Finance Department and what can they do for the self employed 560 Fico credit score customer? Well they first thing that they can't do is take away the disappointment and embarrassment that you feel when you get declined everywhere else. Special Finance Department are set up at dealer for the soul purpose of helping customers with bad credit get financed on new or used vehicle when nobody else can. What makes most Special Finance Department special is that they only deal with customer with bad credit. Meaning a customer with a 560 fico credit score is not necessary bad credit. There have been customers with a 560 fico credit score that have never made a late payment in there lives. So just because a customer has 560 fico score it does not mean that they have bad credit.

What a Special Finance Department can do for the customer that most dealer or banks will turn down is access their over credit take consideration and the over job, income and stability of the customer. Then place them with the right vehicle and the right lender for their situation. There are ways to get around the problem of not being able to prove your income and being self employed. Sometimes lenders will take bank statements or cancelled checks front and back to prove income. If a customer has filed taxes or their taxes don't prove their total income some lenders will take a combination of bank statement and contracts from the company to prove income. They key is to getting approved is not always what the customer has to offer but what the Special Finance Department can offer them.

Now the goal is to find a Special Finance Department and make sure you got a good one. One way is to call around and hope you can find a Special Finance Department and then hope you have a good one. Another way to get to in touch great Special Finance Department in your area that knows how to get in customer approved with low credit scores and trouble proving income check out http://www.shotcredit.com. They have a nationwide network of prescreened professional Special Financed Departments that only deal bad credit and customer with special situations.