Being self employed wont affect your credit, it will however affect you proving your income, which all banks require,even with good credit. So remember when an auto purchase is coming up to prepare yourself early. If you get paid cash, deposit your money in the bank, you can take it right back out if you wish. You need to show 3-6 months deposits, and they should be uniform to what you are stating for income! And make sure its your personal account, not a business account. Even if you don't have a job but take in money (for who knows what) if you deposit this money, you can call it provable income!You ll see below its actually easier to prove self employed income with bad credit, the difference will be the interest one pays! happy motoring
Recap proof of income needed for auto loan
poor credit- 2-3 months personal banks statements showing deposits
middle of the road credit- 6 months personal bank statements with 2 years taxes
good credit- same as above, except if your score is above 725 you may not need anything
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