If you’re self-employed you already know there are no such things as auto loans for the self-employed.

Think again! Self-employed individuals CAN get approved for new start auto loans, or zero credit score auto loans, and get you on the way to establishing good credit, despite your supposed “lack of employment history” [which you probably can document better than you might realize.]

It’s a fact, much of our society tends to frown on the notion of being self-employed, and if you have a history of being self-employed, you surely know how difficult it is to not only get loans from banks, but also to purchase health, life, or even home owner’s insurance.  It’s a sad truth: our society often doesn’t give the respect self-employed individuals deserve.

But you’ll be glad to know there are specialized financial managers who deal in finding auto loans for individuals who either have no credit, a ‘zero’ credit score, or even bad credit, and these managers will get you together with auto dealers who want to extend auto loans to self-employed persons such as yourself!

Ask yourself this question: do you pay taxes?  If you do, then you’ve most likely got sufficient documentation to take to the lending table to get your loan started.  If you don’t pay taxes, that’s your business, but it’s a fair bet you have some cash on hand to put down as a down payment on any number of auto loans perfect for self-employed business owners such as yourself.

It’s funny how the old saying, “Cash is king” really is true, especially when it comes to buying a car.  And even if you don’t have any money to put down on your loan, you really should fill out an application to see what is available to you.

It’s easy and only takes a few minutes to find out what kind of options for auto loans for the self-employed are available.

First of all,  I suppose this depends on what you opinion of instant car loan is.  If you think it’s an auto loan that you take start to finish in a minute then no.  Their are ways to save a lot of time on your auto loan even if you have bad credit.

1. Make sure you know what you need.  If you know what your vehicle needs are you wont have to go back and forth with a sales guy,  If you have six kids you’ll need a minivan or two vehicles.  If it’s only you but you drive a hundred miles a day, consider an economical vehicle.
2. Get everything ready.  Most often you will need several documents with you when you come in.  Gather proof of all of your income.  If you are W2 wages (a regular job with a check stub) then just get the last two check stubs.  If you have supplemental income or fixed income such as child support or disability, you will need statements from child support, an award letter or maybe bank statements showing those payments coming in every month.  You may also need copies or your utility bills, phone bill, 6 references (friends, relatives, neighbors) and insurance info.
3. Get finance manager all of your information.  This part is easy, if you apply with New Start Auto Loans, all of your information will automatically be sent to them and they will only need to verify.

Get Your Auto Loan Started Here

Working for cash could mean a few things. Are you getting tips for a portion of your income? Are you a contractor? Or are you working for CASH that your employer does not report because they don’t want to pay taxes? First of all if you have some time before you need to buy a car you should prepare. To prepare for an auto loan with partial cash or all cash job you should develop as many ways to show the lender your income as possible. You should open up an account, whether it be a checking or savings account at your local bank. Once you have an account, you can deposit ALL of your income in. You don’t need to keep it in the bank but showing that money coming in on a regular basis at regular intervals may help prove income. If you are contemplating not showing any or part of your income on your taxes you should reconsider. Aside from being illegal, you may be hiding the very income that will make your debt ratio low enough to get a loan.
If you don’t have any time to set up an account or show all of your income on your taxes, you may be able to get by with a detailed letter from your employer. This letter should include your hire date, your hourly rate, schedule, and that they expect that this will continue indefinitely. This will not pass as proof of income in many cases but some finance managers will be able to use this.

Get A Car Loan

If your credit is less than perfect and you have been to a dealer and been disappointed with the amount of time it takes to get everything done you are not alone.