Self-Employed? Looking for an Auto Loan? Here’s What You Need To Know
When you walk through the door of a dealership, car sales representatives are hoping for one thing: to sell a car to make a profit. But in order to do so, a few factors must be on the bargaining table—good credit, valid ID, down payment (or a trade-in car), a basic understanding of financing, and (most importantly) a reliable source of income. For self-employed workers, the latter may be harder to prove than the average salaried employee. Any self-employed worker who makes at least $400 has to file a 1099 form to pay self-employment taxes. While that means they’re making