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Do car dealerships always verify your income?
Do car dealers always verify your income when you apply for a car loan? I'm in the market for a car, but I'm also in between jobs. I should have a new job lined up soon, but I haven't had any income other than unemployment for three months.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Yes, the dealership will certainly verify your income to see if you qualify for a car loan.
If you’ve been laid off but have a job on the horizon, just be straightforward. In some cases, they’ll still be willing to work with you if you pay a larger
down payment
or go through their financing department.When you budget for a car, also keep in mind that dealers will require car insurance. To find the best deals on insurance, use the free car insurance comparison app,
Jerry
.”View full answer
- Gregory R.
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