How Many Pay Stubs Do I Need for a Car Loan? (2024)

How Many Pay Stubs Do I Need for a Car Loan? (2024)
December 27, 2023
5 min read
December 27, 2023
6 min read

One's first thought when attempting to secure auto financing is typically, "How much can I get?" There are a variety of factors that influence how much money you can get for your next car.

One of those factors is how much money you have in the bank and what kind of credit history you have. If you are struggling with poor credit or owe money from previous loans, then it might be difficult for lenders to approve your application for auto loan financing. 

They will want proof that you have enough income coming from somewhere other than just your salary as an employee or self-employed individual. So, let's get started with this article about how many pay stubs you need for a car loan.

What Do You Need for a Car Loan?

  • In order to get approved for a car loan, a lending institution will require proof of steady income.
  • They'll also want bank statements and tax returns from the last year or two. 
  • Some lenders may ask for pay stubs as well, but it's not required by most banks.
  • If you have other documents that show your income and expenses (like financial aid applications or credit card statements), those can help too.

Moreover, if you're wondering whether to keep copies of these documents on hand at all times when applying for loans, keep them in electronic form.

Pay Slips for an Auto Loan

How many pay stubs do I need for a car loan

If you want to borrow money from a bank to buy a car, the lender will require pay stubs. In other words, if you want to get approved for an auto loan, all of your recent paychecks need to be included on the application.

You might be wondering why this is so important and why they're not just asking for proof that you have enough income in general. Well, there is a reason:

Lenders look at how much money someone makes during their time working with them as well as their overall history. 

Why Do You Need to Pay Stubs for a Car Loan?

A pay stub is an official document that shows your earnings and employment status, which can help lenders determine whether you're eligible for credit or insurance coverage. 

Car loan applications need pay stubs. Moreover, pay stubs are also used to verify income information on tax returns and other documents. You'll need one for each employer you work for, even if it's only part-time or seasonal work (unless your employer agrees otherwise).

How Many Pay Stubs Do You Need to Buy a Car?

You need to provide at least two months' worth of pay stubs for each year you’re applying for a car loan.

Pay stubs must be from the same employer and pay period, as well as in the same currency and format.

Proof of Income for Car Loan

To get a car loan, you'll also need to provide other documents. These include:

  • Bank statements. If you want to finance your vehicle through a bank, they will require that you show proof of income and savings to qualify for a loan. This means they'll want to see recent pay stubs or other financial documents from your employer and bank accounts. Banks verify pay stubs while you apply for a loan.

Moreover, they might inquire about things like:

  • Your credit score (if available)
  • Proof of identity (like an ID card or driver's license)

Get a Pay Stub for an Auto Loan With

If you are looking for a pay stub for an auto loan, has the answer. They offer the best rates and services available in California, so head over to their website today and get your pay stubs delivered right to your inbox.

They also provide the opportunity to ask for a car loan without pay stubs. Moreover, you can also find pay slips for rent and pay slips for mortgage applications on the website.


  • What do you need to get a car loan from a dealership?

You may need to provide proof of income, bank statements, a vehicle title and registration, proof of residence (utility bills), proof of insurance, and citizenship or residency status. 

Moreover, they can also ask you to provide credit score information if you're applying for a loan through a dealership. The more information they have on hand when they're assessing your application, the easier it will be for them to determine whether or not they can approve it based on their lending criteria.

  • How to get a car financed when you have poor credit?

It is very difficult to finance a car with a poor credit score. There are, however, workarounds for this.

Getting a car loan with bad credit or no credit can be tricky because of the high-interest rates that lenders charge on these loans. If your credit history isn’t too good and you don't have much income, then getting an auto loan might not be an option for you right now.

If this is the case, you may want to downsize rather than pay off debt by making adjustments to your lifestyle, such as saving more money or switching careers (if necessary). You can also ask for help from your friends or family.

  • What is the purpose of proving my income for an auto loan?

The purpose of proving your income is to show that you can afford the monthly payments on your car loan. If you're able to make all of the payments, then this will help lower the interest rate and save you money.

If a lender wants proof that you can afford your interest rate and payment amount, they may ask for both: a recent pay stub showing what kind of job or business opportunity led to those earnings, as well as any other documents related to those facts (such as tax returns).

  • Do you need pay stubs to finance a car?

A pay stub is a document that shows your income, and the lender uses it to determine whether you qualify for financing on a car.

This may seem obvious, but it's important to note that if you have access to more than one source of income, like an employer and freelance work, you'll need more than one pay stub.

You may also have other documents that show your income besides just a paycheck. One example would be W-2s or 1099s (if applicable).

  • How many pay stubs do I need for a personal loan?

Mostly, the pay stubs for the last two months are necessary for a personal loan. But it depends on the lender regarding the requirement of pay stubs.

It's important to have at least one pay stub per year showing proof that you've been making payments on time every month since applying for the loan. 

Your lender will check this information before approving the application process, and they'll ask for additional auto loan documentation if needed, such as:

  • Your most recent W2 tax form (if applicable)
  • A copy of your latest IRS 1099-INT or other forms confirming annual income from self-employment income
  • Do dealerships require pay stubs?

Dealerships require you to provide a copy of your pay stubs, but they don’t necessarily need them for every loan you get from them. 

If you have a car loan from your local dealership, then yes, they will want to see proof that you were paid properly during the period when they sold your vehicle (or whatever type of loan it was). But if not, then there is no need to worry.

  • How many bank statements are for an auto loan?

You'll need to provide your lender with three years' worth of bank statements. This can be in the form of a paper copy or electronically through their online banking system.

If you prefer, you can also use an Excel file and upload it in PDF format if your bank allows it (most do).

Final Thoughts on Pay Stubs for a Car Loan

If you don’t have enough money saved up to finance a car or want to use credit, there are still ways to get an auto loan without going through banks or other financial institutions first.

However, most lenders look at your credit history and need pay stubs for a car loan. Therefore, it is better to keep them ready beforehand.