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WillfulNoncompliance

Auto loans approved on credit report only?

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I have not financed a car in almost 10 years as my last financed car was a Porsche paid off in six months. This shows on my CR but will come off them in May. I good credit with nothing bad on my reports with several 30k cc with zero balances. However when it comes to finaning a car its a real pain as they all want tax documents, bank statements etc. Being in a family owned business I can elect what to pay myself and it doesn't make much sense to pay myself alot for tax reasons.

There are lots of "no doc", "stated income" loans out there for purchasing properties why not autos? Maybe I am searching for the loan the wrong way?

Recently I joined another CU and was pre approved for a CC and auto loan of 30k. I accepted both and was sent the CC instantly but they wanted me to send in tax documents for the auto loan. So much for pre approvals. Sure I can put the car on one of my credit cards but that does not help me.

Any advice on where to look and someplace that does not pul EX as I have 24 inq with them without even trying thanks to the multi pullers.

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Your F&I manager at your local dealership should be able to help you. Most dealers work with many lenders that are score driven.

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most of us F&I people can be rather successfull in having POI waived, provided the transactions is structured appropriately.

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