Income for car finance
Income advice for car finance
Your income is obviously what is taken into account when applying for car finance, the finance company you apply with will want to know; what type of income you get, how much that income is, and how often you receive it.
Eligibility for car finance does not necessarily depend on how much income you receive, as finance lenders look at a wide range of factors when deciding to borrow an individual money.
Not all lenders use the same factors, for example: some ask to see bank statements, some ask to see wage slips, some ask to see both – Then some do not ask for either.
Whether you are applying for a loan agreement on a car, van, motorbike or even caravan, you will be required to declare how much income you receive on a monthly basis
The income you declare can be from multiple sources, it does not necessarily need to be from full time employed income. You can be in receipt of self employed income, part time employment, pension payments, a mixture of employed income and benefits even 100% benefits. – Employment criteria
Our large panel of lenders look at car loan applications even if you get benefits like universal credit, tax credits, disability living allowance, personal independence payments and child benefit.
We have access to the lowest car finance packages available for your personal circumstances, all financial situations and credit histories are considered.