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If you have non-employment income, check with lenders to see if they will accept it when you apply for a car loan. Typically, BHPH lots feature higher than average interest rates on their loans, which could be considered the trade-off for skipping the credit check. Looking at new Tesla/Jeep/Hyundai's. When exploring various options for no income car loan, you must stay away from dealership financing. But this also isn't my first auto loan with DCU. Finance Centert Car Buying Tips. If you are a home owner, take a copy of your home payments, and at least two bank statements. It's great that there. Best of luck to your family OP. Each bad credit lender is different, but the majority also require things like proof of a working phone, proof of residence, a consistent work history, a few personal references, and a valid drivers license. Do not work with companies that promise to erase your bad credit or create a new credit identity. Do Not Sell or Share My Personal Information. We also work with first time buyers who have no previous credit history. More details on software and accessibility are available at WebAIM.org. 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. When you're ready to get started, our finance center is here to help. We'd love to hear from you, please enter your comments. Now, I would have to question what your family member listed on the credit application. We have nationwide network of all types of lenders spread across the United States. Are you looking for no income car loans? I recommend this to anyone looking to buy a car. For more information, please see our Past performance is not indicative of future results. These loans come with exorbitantly high interest rates. According to Cars Direct, the lender requires more of a down payment from those who cannot provide income because if the payments are not received, it can repossess the vehicle and resell it without taking a huge loss.. You could think of applying for such type of loan if you are self-employed and facing problems with documenting your income while getting approved for financing through conventional means. If you have a low down payment call us now! If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. As long as the primary cardholder makes on-time payments, you could see an improvement in your credit score. He has a masters in journalism from Michigan State University. You might also be able to provide bank statements in place of proof of income, but keep in mind that you'll likely get charged a higher interest rate since they're not as reliable as your tax returns. You need to bargain on the car price when looking for no proof of income car dealership near you.