How to Get a Car Financed if You Are Self-Employed

Written by Mark Hergert1
Published on 28 July 2012 Hits: 5822

How to get Financed

if you are Self Employed


Before the economic downturn of 2008, it was fairly easy to get into a
car loan even if you were self-employed. Unfortunately, some
unscrupulous people took advantage of the system and made it much more
difficult for honest self-employed professionals to get car loans.
However, if you can prove economic stability companies such as Auto
Credit Financial will take a chance with you.

Auto Credit Financial

Self-employed people usually do not get a steady paycheck from one
employer. That fact makes it much riskier for a lender to issue the
car note. You must prove through tax returns, banking account
statements, and a solid credit rating that you are making money even
though you do not work with a traditional employer.
If you have a history of credit problems and are self-employed, when
it comes to financing a new or used car you have a tough road ahead.

Is the situation entirely hopeless? It depends upon the seriousness of
your credit problems and how long you have been self-employed.

If you can prove two or more years of stable income and offer a vehicle trade
in or cash down payment, you are much better off than someone who
recently became self-employed with no track record.

Let our staff of professionals work out the details!

preview f2

Apply Online 

The bottom line is if you can prove your self-employed status does not
make it difficult for you to pay bills, you can probably get a loan
for a good used or new car. While you can get a loan without a down
payment, if you can put at least 10 percent of the sticker price
toward the vehicle purchase you will get an excellent interest rate.

Auto Credit Financial Services.

Bad Credit Car and Truck Loans

a Mark Hergert Company

What's My Payment?

Down Payment($):
Auto loan amount ($):
Your Credit Rating:
Interest rate (%):
Auto loan term (months):

Credit Information Before You Buy


After years of delays, the credit industry finally agreed to give consumers access to their personal "credit scores." This is important, because lenders use credit scores to determine who to give credit to and at what rates. Knowing your credit score can be empowering,If it's low you can take steps to improve your credit worthiness and if it's high you may be able to use it as leverage when shopping for your next car loan.