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Would a contract of employment be enough proof of income for a car loan?

Hi, i've just started a new job and i have a contract from work stating my basic salary on there. Would that be ok for evidence of employment?

Posted by Raj on 02/10/2011 @ 19:56

Hi Raj, yes a contract of employment would be enough evidence for a finance company to prove your income. The only other thing a finance lender may want to do is a job check if you haven't started getting payslips yet. Please make a car loan application today and we'll see if we can get you accepted. How's your credit profile and how much are you looking to borrow? Kind Regards, Edwin

Posted by Edwin Miles on 03/10/2011 @ 10:25

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Welll my credit is bad :( however no ccjs, no ivas and i'm not bankrupt. Just defaults in the past which are mostly settled. However checking my report i found one default which i didn't know i had bttt mostly all settled and i have no other finance i am paying for....so the car would only be the only thing im paying for....im looking around £8000 has i want a decent car to last me a few years. Would that be ok?

Posted by Rajdeep on 03/10/2011 @ 13:00

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Hi Rajdeep, the only way to find out is to make an application and see if we can get you approved. Your credit doesn't sound really bad but the lenders don't like to see defaults. However, there's a chance of getting you approved so please apply. Kind Regards, Edwin

Posted by Edwin Miles on 03/10/2011 @ 13:10

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iv just made an application now! fingers crossed :)

Posted by Raj on 03/10/2011 @ 13:19

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