How Many Paystubs Do You Need for a Car Loan – 2024 Guide


If you have decided to apply for a car loan, you may feel a bit confused when it comes to collecting the necessary documentation. This can cause a lot of stress as well, even though you may have been looking forward to buying a new car.

The question that bothers many is closely related to paystubs and how many of these will you need to provide as proof. In most cases, lenders will require you to provide these, regardless of your excellent credit history.

These are asked as proof of income, guaranteeing you’ll be able to pay off what you have borrowed. The general rule is for it not to be less than a month old, going back for a year, showing what was the monthly amount of your salary. You can also expect them to demand you to be a full-time employee, as well as to set a minimum income.

What may bother you at this point is the fact that you cannot provide these paystubs, as you have been for instance self-employed. In this case, you are submitting a different type of document that proves the sum of your bank deposit and tax returns.

However, these are not the only documents you’ll need, which is why we will mention a few more you may want to consider collecting before you actually go to the lender and ask for a loan.



Here’s another document you’ll need to file along with the application, that will come as proof you’ve been living at the address you’ve stated in the application. This is an easy one because you can use this month’s utility bill, where the address is always stated, along with your full name. We say this month because it cannot be older than 30 days.



As no lender will allow you any sum if you cannot guarantee someone can back you up if things go wrong. It’s usually a list of people with their contacts. The worse your credit history is, the longer the list.

Driver’s license


It is mandatory to have one when you’re borrowing money for a new car. It has to be a valid one, of course and issued in the state you’re residing in, currently.

Why should you consider getting pre-approved?


These are only a couple of main documents you will be required to file when you decide to lend money for a new car. The list tends to be a lot longer, requiring a lot more time to spend on this procedure. This is exactly why it is smarter to get pre-approved.

You want to avoid a situation where you have found a perfect vehicle, went to get a loan, filled out tons of papers, collected tons of evidence, and in the end, they have decided you’re not eligible. No need to mention how frustrating and disappointing a situation like this can be.

Getting pre-approved makes the whole process less stressful, and much more convenient.