Well, after waiting nearly two years, I'm finally going to be pulling the trigger on a new Mustang (2006 Vista blue, dark charcoal interior, leather, V6, Auto tranny, IUP) in a few weeks. Being that I'm also getting into my own place, I do have to be a little conservative and pick up a V6 instead of a GT.

I visited the Ford dealer last night to ask some questions. My main question was about financing. I don't know if the salesman was telling me the truth or not but I wanted to verify here: does Ford financing require a paystub? Reason is that I've just landed a great job and would prefer not to have to wait three weeks for a paystub to buy my 'stang. I had arranged financing prior to this but they require a paystub for proof of income. No paystubs from my new job yet.

He mentioned that no they didn't require a paystub because it will all show up under your social once they run it. Now, I've been in the financial industry before (mortgage loans) and that never happened when we ran credit reports for potential borrowers. The borrower always provided that information. So, that made me very suspicious of that salesman and I wanted to verify the answer here before I made a big purchase decision. Does Ford Financing require a paystub as proof of income?

 

You may not need a paystub, but they will verify employment if your credit report doesn't show current employment. The credit report would never show how much you make, though.

They can verify employment and current pay by calling your place of employment.

 

Thanks, Jeff! Would a job offer letter suffice?

 

Very possibly, yeah. Quiet honestly, I don't think I've ever had Ford Financing verify, except once when I got the 0.0% financing.

I know when we were buying our house, the job offer letter was used until later in the process when they called. Either you'd be okay, I think.

The worst that happens is they call the HR head at your work to verify everything. No big deal really.

 

FMCC will only ask for a paystub if you have shaky credit...