How can I get a car loan if I have a cash job?
If you have a cash income job, whether you are a bar tender, a small business owner, or a general contractor. You probably have already encountered some issues when you are trying to apply for a car loan. One of the stipulations for a normal loan document is the requirement of proof of income. This usually means you have to provide the pay stubs, or you company pay cheque to proof to the lender you are making the amount you claim to make. Without this your loan document will not be approved, this even applies to the bad credit car loans. Many Canadians today can not get around this issue, therefore they are unable to live a normal life compare to people with good credit. If you are searching for a loan provider who will not require you to produce a proof of income before you are approved for a car loan, then you have found the right article.
There are services out there in the city of Toronto where a proof of income is not a requirement. For example there are private lenders who are willing to ignore the traditional money lending practices, and offer you a car loan without any employment letter, proof of income, even without any down payment. Because these types of loans are almost private loans, it will be only comparable to borrow money from a family member. Of course if you require these types of loan services, you will not be able to pick and choose your choice of vehicle. But in the big picture, it will certainly beat taking the bus everywhere.
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