Proof of Income

Proof of Income
You don’t always have to have this information on you when you come in, but it can help the process move much faster.
In order to finance a used car, you’ll need to provide your proof of income. Proof of income can vary depending on your type of work, if you’re a business over, a 1099, or a full-time employee, military, retired, etc.
Here is a list of what’s considered acceptable proof of income:
Full-time employees:
Please provide your most current pay stub with that has your year-to-date (YTD) earnings on it.
Business owners:
Your most recent bank statements for the last 3 consecutive months.
1099 employees of a company:
Your most recent bank statements for the last 3 consecutive months or
Front and back of canceled checks from the last 3 consecutive months

Business owners/freelancers:

Paypal, stripe, or other invoice services
Service statements for the last 3 consecutive months
AND
Your most recent bank statements for the last 3 consecutive months

Rental income:
Professionally prepared and signed tax returns (form 1040 and Schedule E) from the last 2 consecutive years

Military:
Your most recent military Leave and Earnings Statement
The Following income types require 2 proof of income: 1 from category 1, and 1 from category 2.
Category 1:
Retirement / Pension
Your most recent letter of eligibility from your former employer that includes the amount you receive as well as the payment frequency (how often you’re paid)
Social Security (SSI/SSR/SSS/SSD)
Your most recent letter of eligibility from the Social Security Administration that includes the amount you receive as well as the payment frequency (how often you’re paid)
Investments, Structured Settlements, Annuities, etc.
Your most recent award letter or the court document/s the amount you receive as well as the payment frequency (how often you’re paid)
Long Term Disability Insurance
Your most recent award letter that states your stating status of disability and the amount you receive as well as the payment frequency (how often you’re paid)
Note: this is for long-term disability (LTD) recipients only
Public Assistance
Your most recent award letter stating your award status and the amount you receive as well as the payment frequency (how often you’re paid) Foster Care
The most recent award letter for each child that states the applicant/s name, the child’s name, and the amount you receive as well as the payment frequency (how often you’re paid)
Alimony
You must provide your completed divorce decree/court order showing the amount you receive as well as the payment frequency (how often you’re paid)
Child Support
The completed divorce decree/court order/custody agreement that states the amount you receive as well as the payment frequency (how often you’re paid)

Category 2: Proof of Receipt (This is in addition to a document from Category 1. You must provide one of the following dated within 30 days of purchase):
• Your most recent monthly statement/s from your source of income.
• Your most recent 3 months of consecutive, complete personal bank statements (or your pre-paid debit card statements with matching deposits, your court order/document)
• Front and back of canceled checks from the last 3 consecutive months