What Alternative Income Streams Can I Show When Getting a Refinance Car Loan St. Thomas Ontario?

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It can be argued that a loan is an exercise in trust and commitment. Both parties are trusting the other to deliver on their agreement. The borrower is also making a commitment to repay the loan on time. However, lenders will need assurance that the applicant does have the means to pay off their refinance car loan St. Thomas Ontario. It’s why they require proof of income in the form of payslips. You can also show evidence of alternative income streams. 

What Alternative Proof of Income You Can Use 

  • Pension or Other Government Benefits: Almost everyone receives some form of federal benefits. Pensioners can show their pension slips as proof of a monthly source of income. It’s how retirees can qualify for a fast loan
  • Receipts from Freelance Gigs: The gig economy is thriving these days,  and many lending companies now acknowledge this. Many lenders are now accepting documents proving that your side gigs are stable and/or lucrative. You can show your bank statement or receipts from clients. 
  • Child Support or Alimony: This can also qualify as an income. But lenders might require proof that you’re receiving this regularly. You should first verify if your lender accepts it. 

The Number One in the Industry 

You can easily get the financial assistance you need with Canadian Equity Loans. Our company is one of the most trusted in the country. You can borrow as much as $50,000 without undergoing credit or employment checks. We also offer the lowest interest rates and monthly payments around. You can also opt for early payouts without penalties. Sign up at our website or call our toll-free number at 1-844-586-6311

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