If you are self-employed you may have concerns about how you can get a car loan. The first thing you need to know is that not every dealership has a program for people that are self-employed or own their own business. You need to find a dealer that has a lender that works with self-employed people and knows what the lenders expect. New Start Auto Loans has many dealers that deal with many different types of financing. To prepare to get an auto loan while self-employed or when you own your own business, you will need to gather up proof of your income. Proving your income might be the most difficult part of your finance process. If you are employed through a business you will likely get a check stub, if you are self-employed, however, you will need to prove your income another way. If you have been self-employed for several years, you will probably just need to show your last two years of tax returns. Hopefully, you haven’t found excessive deductions so that your income is almost nothing.  Keep in mind that banks are going to use your adjusted gross income not your net income. If you had $200,000 in income but wrote off $185,000 you can only prove $15,000 for the year and will only qualify based on that.  If you are reading this, are planning on getting a loan in the future, and are self-employed, please keep in mind that finding extras to write off may reduce your taxes but it may reduce your income so much that you won’t qualify for a car loan.

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