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Can I use PayPal as proof of income for an auto loan?
"I get paid through PayPal for Airbnb. However, I haven't yet taken taxes out.
Can I use this as proof of income for an auto loan?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“While getting paid through PayPal does show income, it’s not proof of income. Therefore, lenders won’t accept it.
Think about how COVID-19 affected Airbnb. Many people lost tons of money with a mortgage on a property and no income.
As a result, you won’t be able to get the car loan unless you can show income from a job or other working source.”
View full answer
- Gregory R.
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