Alrighty.
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Alrighty.
If you had a decent credit rating as a result of making on-time payments on your previous car loan, if you have 'proof of employment', and if you can show a couple of years worth of tax returns and/or bank statements to more or less prove your income/cash flow, another loan on a replacement car should be no big deal whatsoever. If there are any real worries, I'd recommend hitting up the same finance company again who held your previous car loan.
if you have decent credit it probably won't depend what you make or how you make it. I've never had them actually verify my employment, just run credit. It might make a difference though whether you go directly to a bank or credit union or a car dealership. Just watch out because dealerships will do their best to screw you on the interest.
^ No, if you have decent credit, they'll only ask for 12 months. If you have STELLAR credit, you may be able to get away with showing nothing. However, the more "proof" you can provide, the less "risk" you are and the lower your rate will be. If you have stellar credit, but don't show proof of income (a no income verification loan) you will be charged a higher rate. Do whatever you can to get a lower rate.
Oh, and don't buy a brand new car. Buy a car that is 2004-2005...preferably a former lease. It'll still have warranties, low mileage, but you will not get hit with the same rate of depreciation as you would with a brand new car. Oh, and spend the extra $500-$1000 to get the extended bumper to bumper warranty. Most manufacturer warranties run out at 6 years or 60,000 miles. While that's fine for a brand new car...if the car is 2 years old and has 20-30,000 miles on it...it's in your best interest to get the extended warranty to cover the major work (engine, cooling system, system brakes, etc).
I've never had them actually verify my employement when I applied for a car loan. I put down where I worked but they never checked. Ever. I used to have great credit. Now I'd need a co-signer (or pay shitty interest) and it wouldn't matter how much I make. :(
Another option (if the rate is in line with competitors) is your bank where you have the checking account, since in addition to the the credit report they can see your transactions if they want. In the case of a totalled vehicle, they would understand the urgency of your need for a new vehicle.
VG's comment is not wrong (and often is 100% true), but leaves out a dimension of vehicles. A new vehicle does have 100% of its warranty as opposed to 75-80% and (100% of the muffler, tires, battery, belts, etc--the middle life-time consumables which can be annoying to have to get fixed on a dancers schedule), and buys you some peace of mind to boot. IF you are a long term car owner (say 7-10 years), the cost of the avoided up front depreciaiton is essentially low cost insurance for an extra 15-20K miles or so of protection. Depending on the price of the vehicle, this is not always a bad thing, since it reduces your downside risk. As I said, what VG says is often the case, it is just not all of the story. Only you can decide on your trade-offs and choices for vehicle turnover .