What Can be a Proof of Income for a Car Loan


Presented by Paystrubmakr.com      By John Wolf and Tom Cullen CPA

If you have a low credit score, it will be indispensable to show income proof to get approved for your new car purchase loan.

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Why will you need proof of income?

Car dealers have a standard procedure for checking the people that ask for a loan to pay for the car they want to buy. It is essential when the possible buyer has a low credit rate.

They must ensure that the buyer has enough income free for the car payments after the cost of living, so they will not default on the monthly payment. 

Having a steady job can get you “APPROVED” although your credit score is low. 

You can consider that a monthly income of $1500 to $2000 before taxes will be enough for a car loan.

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What will you be required when you ask for a car loan?

A pay stub from your workplace will help you prove your income. this is how you will get the proper pay stub. 

Different income sources will require different documents:

Part-time or salary employees

The best will be to present the pay-stubs of the last three months.

A pay-stub from one or more workplaces will do it for your loan.



Contractors, freelancers, and other self-employed people will have the option of bringing their tax return copy from the IRS

Seasonal workers

Again you can not present a pay stub, but the tax return of the last two years will do the magic. The lander will be able to take it as good and valid proof. 

Fixed and steady income

If your income is coming from government assistance, you will need to show all the relative documents.

If your income is low, you may need a co-signer that has good credit.

If you work part-time in a workplace and do some gig jobs online or take some time to work with your music band, find the documents that show it.


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You will have to share the following employment information. 

To get approved for a loan, you need solid information about your job.

a Pay-Stub

Contact information of your workplace

The lender could ask you about your history as an employee.


It is better to ask.

To avoid giving more information than needed, you better ask the institution that you ask for a loan what are their requirements for the proof of income are.

Give what you are asked for, and no more will make things simple and faster. 


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Disclaimer: John Wolf and paystubmakr.com are making a total effort to offer accurate, competent, ethical HR management, employer, and workplace advice.  We do not use the words of an attorney, and the content on the site is not given as legal advice. The website has readers from all US states, which all have different laws on these topics. The reader should look for legal advice before taking any action.  The information presented on this website is offered as a general guide only.