Car Finance Declaring additional income

TMinside · 22 February 2018 at 8:26PM

Hi all,

I'm going to be applying for car finance next month and wondered if saying that I earn an additional income of £1000 per anum + my normal salary would obviously help my application.

But I'm not sure what they would ask if I said i did... I'm not self employed. It's just a bit extra I earn on the side some times, which is either paid by cheque or cash then banked into my account although the work can be 'random' and not guaranteed as such.

Any help/advice is appreciated.

[Deleted User] · 22 February 2018 at 8:28PM

If you put it down, just prepare to evidence it if asked.

Make sure it is als consistent with any previous income figures you have given in the past for credit applications.

davidwood681 · 23 February 2018 at 10:12AM

Unless you have a bad credit history or it's quite an expensive car, it's rare for them to ask you to prove your income for car finance.

Shakin_Steve · 23 February 2018 at 10:23AM

If it's random and not guaranteed then it's not income.

chanz4 · 23 February 2018 at 10:29AM

Also if not declared, you have even bigger things to worry about

AnotherJoe · 24 February 2018 at 8:28AM

I would say if you are so tight on finances that an extra £1,000 income makes a difference, you shouldn't be taking such a large loan in the first place.