• Home
  • Buy Here Pay Here in Spartanburg with No Proof of Income – Is This a Scam?

Buy Here Pay Here in Spartanburg with No Proof of Income – Is This a Scam?

The buy here pay here in South Carolina is a competitive market. And this means that almost all dealers will display a variety of deals to capture the attention of consumers. Buy here pay here with no proof of income is yet another deal. Some dealers claim that they will not verify your income statement or job status if you finance your next used car with one of them. Although the deal is not a scam in most cases, it does not necessarily help you in the long run. Plus, expect a host of associated terms and conditions that you will have to fulfil before you can actually become eligible.

So, let’s discuss the buy here pay here with no proof of income here. Know exactly what all are on offer and why some dealerships do not bother about your income statement.

The need for proof of income

A typical Spartanburg buy here pay here dealership will ask for your proof of income. After all, your income is the only collateral upon which your auto financing is based. In other words, the amount of auto loan you can get from a buy here pay here dealership depends on the pay check you receive every month and if the latter can easily cover the monthly payments of your auto loan, you are eligible to stand approved for bad credit financing. Naturally, a dealer will need to see some proof of income just like your proof of identity and driving eligibility. No one benefits in a deal where the lender overpays and the borrower defaults.

Why do some dealers finance without income proof then?

Just to make the buy here pay here deal more lucrative, a buy here pay here in SC may choose to forego the step where your income proof is required. However, this happens only:

1.If you pay a very high down payment for the vehicle that you are buying
2.Or, up to a certain amount of monthly payment

These terms are included in the fine print of the deal. You get to hear them after you arrive at the dealership after seeing the advertisement. First, the high down payment covers most of the dealership’s cost price of the vehicle that it paid to buy the car and reduces its exposure to debt. Hence, even if you default later, the loss is limited. And second, if your monthly payment comes to $600-$800, the dealership assumes that you can afford that. And in case you can’t, repossession is always on the cards that hurt the dealers less and you more.

Not a scam, but not helpful as well

A top buy here pay here dealership like Family Auto asks for your income statement or proof of income. It helps us to calculate the amount of loan that you can afford in the long run without any chance of default. Buy here pay here with no proof of income may seem fancy at first but it might force a greater loan burden on you since the limit of monthly payments is generally kept higher to increase a dealership’s credit revenue.

Avoid a buy here pay here in South Carolina that offers superfluous deals. Instead, choose Family Auto of Spartanburg where you get solid offers like 2 years/36,000 miles warranty, competitive trade-in rates, $100 for every referral that you send, and the quality assurance of a 20+ years old used car dealer.


The information provided on this website is for general informational purposes only. It is not intended to be legal, financial, or professional advice. The content on this site is based on our understanding of current laws, regulations, and practices as of the date of publication. We make no representations or warranties of any kind, express or implied, about the accuracy, reliability, suitability, or availability of the information contained on this website.

Visitors are encouraged to seek professional advice from qualified professionals regarding their specific situations. Any reliance you place on the information provided on this website is strictly at your own risk. We do not assume any responsibility or liability for any loss or damage incurred as a result of the use of this website or reliance on the information provided herein.

Furthermore, this website may contain links to external websites that are not under our control. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, we take no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please consult with qualified professionals and carefully review all terms and conditions before making any financial or legal decisions. We recommend conducting thorough research and seeking personalized advice to ensure that any actions you take are suitable for your individual circumstances.

How much is your
car worth ?

Trade your Car Today