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Trouble with Car Loan (No Verifiable Income)

08-12-2008, 04:02 PM
I'm having trouble getting a car loan. I'm looking to get a very affordable (under 9K) 2006 or greater hyundai accent or kia spectra.

The problem is that I'm a student and do work on the side (self-employed) but don't have the necessary verifiable income.

I can put $1000 down cash. Any suggestions?

08-13-2008, 01:25 AM
Where have you tried to get financing? Some credit unions have less stringent rules for financing, but many are changing due to the worsening economy, and they don't want to take any more risk then they have to. There are dealers out there that claim to get most of their customers financed. There is a Hyundai dealer in our area that boasts a 98% success rate, although I would be careful as to the interest rate charged on loans like this as it would probably be quite high.

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