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Do car dealerships have to look at your bank account?
Do dealers look at your bank account? I know that dealers check your credit, pay stubs, and verify your employment and residence. I had a few overdraft charges, and I want to make sure this doesn't disqualify me from a loan.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Of the many
items to bring
to a dealer will need when applying for your car loan, statements aren’t commonly requested.The dealer will sometimes look at your bank accounts to verify your income or help them decide if you’re a credit risk based on how much money you have in the bank.
If you have a great credit score, they might not even ask for bank account statements. That said, you don’t have to hand them over unless they’re specifically requested. You can monitor your credit score using the
Credit Karma
app. So if you’re worried about it, don’t bring it up. Keep in mind that overdrafts aren’t going to directly get you rejected for a car loan, but they may not help.
You will however need
car insurance
before you go. Dealers check that you are insured
and it’s illegal in almost every state to drive off the lot without it. You can get auto insurance fast with the Jerry
app. Compare 50+ top insurers and know that you’re getting the best deal for the coverage you want and need.View full answer
- Gregory R.
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