THE PROOF IS IN THE...PROOF

     As you look to purchase a car, you will be asked a lot of questions.  You will be asked how much you make.  You will be asked where you live.  You may even bee asked to provide references.

Proof of Income

     In filling out your credit application you will be asked how much money you make.  You may surprised at how many people do not know.  The figure that most lenders want to see is your GROSS INCOME.  Gross is the amount of money you are paid BEFORE taxes or any other withholding is taken out.  It is always the larger amount.  The NET INCOME is what is left after all taxes and withholdings are taken.  That is the amount we get to "LIVE" on. You should bring several of your most recent pay stubs as well as 2 to 3 bank statements to prove your numbers.  

But I don't get a "Pay Check"

     Some workers do not receive a "normal" paycheck.  Folks who are self employed, freelancers, investors, or tipped employees in the service industries will have a harder time Proving their income.  Lenders are not as likely as they once were to accept our word about income. If you own a small business you may have to provide Tax records,  Bank statements showing monies deposited regularly for several months will often be accepted as proof.  SO  if you work for tips you will need to deposit those in your bank for them to be provable income.