My employer doesn't provide an electronic pay stub and I need one to get a car loan
You have a few options and sometimes challenges help us improve our situation. First, you can not borrow to buy a car.  Reducing the massive depreciation that cars undergo will help you be wealthier.  It is hard to find a good use car that you can buy for cash, but it will play out best for your finances in the long run. If your heart is set on borrowing, I would encourage you to go to the bank/credit union where you have your checking account.  They will see your history of deposits and may grant you a loan based on that.  Also you are likely to get a better deal from the bank than from the car dealer. Thirdly, you can simply go to your employer's HR department and ask them.  Surely someone has applied for a loan during the company's history.  What did they do for them?
You're knowingly providing a payment method which has insufficient funds to meet the terms of the contract, because you are too lazy to comply with the contract. That's unethical and fraudulent behavior. Will you get in trouble? I don't know. I'd suggest getting acquainted with an electronic calendar that can remind you to do things. "Anyone can walk into a bank, say ""Hi, I'm a messenger, I have an endorsed check and a filled out deposit slip for Joe Blow who has an account here, please deposit this check for him, as he is incapacitated. Straight deposit.""  They'll fiddle on their computer, to see if they can identify the deposit account definitively, and if they can, and the check looks legit, ""thanks for taking care of our customer sir.""  Of course, getting a balance or cashback is out of the question since you are not authenticated as the customer. I have done the same with balance transfer paperwork, in that case the bank knew the customer and the balance transfer was his usual. If the friend does not have an account there, then s/he should maybe open an account at an ""online bank"" that allows deposit by snapping photos on a phone, or phone up a branch, describe her/his situation and see if they have any options.  Alternately, s/he could get a PayPal account.  Or get one of those ""credit card swipe on your phone"" deals like Square or PayPal Here, which have fees very close to nil, normally cards are swiped but you can hand-enter the numbers.   Those are fairly easy to get even if you have troubles with creditworthiness.  S/he would need to return the check to the payer and ask the payer to pay her/him one of those ways.  The payer may not be able to, e.g. if they are a large corporation. A last possibility is if the check is from a large corporation with whom s/he continues to do business with.  For instance, the electric company cashiers out your account after you terminate service at your old location. But then you provision service at a new location and get a new bill, you can send their check right back to them and say ""Please apply this to my new account"". If s/he is unable to get any of those because of more serious problems like being in the country illegally, then, lawful behavior has its privileges, sorry. There are lots of unbanked people, and they pay through the nose for banking services at those ghastly check-cashing places, at least in America.  I don't have a good answer for how to get a check cashed in that situation." "A paycheck is simply a check for your salary.  It's just like a rent check, or a birthday check, or a grocery check...  I've had ""paychecks"" that were personal checks from the owner of the business, I've had ones that are printed in the office I worked in and signed right there, and I've had paychecks that are printed through a third party company and mailed to me (my favorite, of course, is to forgo the ""paycheck"" entirely and get direct deposit :) ).  Really, they're all just checks. Although that's a little disingenuous, because banks are often slightly more trusting of paychecks.  However, this has little to do with it being a ""paycheck,"" per se, and more to do with the fact that they see you getting the same check for (roughly) the same amount on a regular basis; having seen you get a paycheck for the same amount from the same company for the last 12 months, there is less risk of the check bouncing or being returned unpaid, so you can often get banks to waive their hold policy and just give you the money." A lot of companies now do credit checks before employment. They may decide that you are untrustworthy by having shoddy credit after a foreclosure/bankruptcy. The past 2 jobs I have they did a credit check. I wonder how companies use that information in the hiring process. No, they cannot refuse to provide you with the current balance or a balance history. The other answers point you to resources that are available to help you put pressure on the dealership. The bottom line is that you now know that you have the right to the details and to audit their recording of the transactions. You should now use that information and demand a better response in writing. If they have to give you a response in writing, they can't deny the answer they gave in a court of law later on. They understand this, and they will take you more seriously if you send a letter. Make sure to keep copies of the letter and send it with certified delivery. "The thing to recall here is that auto-pay is a convenience, not a guarantee. Auto-pay withdrawals, notices that a bill is due, all of these are niceties that the lender uses to try to make sure you consistently pay your bill on time, as all businesses enjoy steady cash flows. Now, what all of these ""quality of life"" features don't do is mitigate your responsibility, as outlined when you first took out the loan, to pay it back in a timely manner and according to the terms and conditions of the loan. If your original contract for the loan states you shall make ""a payment of $X.XX each calendar month"", then you are required to make that payment one way or another. If auto-pay fails, you are still obligated to monitor that and correct the payment to ensure you meet your contractual obligation. It's less than pleasant that they didn't notify you, but you were already aware you had an obligation to pay back the loan, and knew what the terms of the loan were. Any forgiveness of interest or penalties for late fees is entirely up to the CSR and the company's internal policies, not the law." I'm going to give the checkmark to Joe, but I wanted to convey my personal experience. I bank with TD in New Jersey and was informed by the teller that I simply needed to endorse the check myself and indicate Parent of Minor. I cannot attest if other banks will accept this, but it at least works for TD and my situation in particular. The first thing is to look at the monthly cost of the loan. The one from the company is interest free. While it is unlikely that a bank will have a zero percent loan, you will also have to look at what the seller will offer.  The next thing to look at is the term of the loan. When comparing two loans with the same interest rate the shorter term loan will cost more per month. Many times when an auto dealer offers a zero percent loan they also  have a very short term: 12-24 months; Many people can't afford the monthly payments with that short a term.  You said you could afford to save the other $2000 in about six months. That means you could set aside $333 a month to do it in six months. If the loan from the employer has a term longer than 6 months you should be able to afford the loan. Keep in mind that the employer will probably be taking the money right out of your paychecks.  You do have to look at the conditions attached to the loan. What does accepting the loan do to your employment situation? If you leave early do they want you to pay it back in 30 days, or will they take the rest from the final paycheck, or do you have longer?  You do have to look at the term of the loan, and see if you can pay it off early. If they require a 12 month term can you end it earlier, or change the monthly payment to end it early? The reason why you care about the term is that if the term is 24 months then after a year you still owe them $1000; which if you have to pay back immediately if you quit, it may make it hard for you to leave the company. A minor note: They probably are not reporting it to the credit reporting agencies therefore it wont help your credit score. This is probably not a big issue since you are considering going without a loan. As a follow-up, I was able to find a bank that gave me a loan. I just called several banks listed on Yelp, and one ended up working with me. It is also possible that the previous banks misunderstood me and assumed I was 1099 and not W2. I made it very clear to this guy that I was W2, and there was absolutely no problem. Also, it turned out the recruiter I work for has special paperwork their employees can give to lenders to verify W2 employment. So, I have been in my condo since January. And, the condo was a little under $250K. Anyway, I still think it's ABSOLUTELY RIDICULOUS that banks would not give a loan to a web developer who is in super high demand and making well over 100K/year -- even if I am 1099. I have never, ever in my life been late on a single payment for anything, and I have an 800 credit score. To even question that I could not make payments is ludicrous. Whenever I put my resume on monster.com (just one web site), I receive about 20 phone calls daily -- and I am not exaggerating even slightly. An auto title loans are typically utilized by those that wish to obtain a funding with bad credit rating or no credit in any way. An auto-mobile title lending frequently called a vehicle title lending or merely title funding as well as pink slip funding’s. You merely should have a vehicle that is paid off or nearly paid off and also you could make use of the auto title as security to obtain the cash money you require, enabling you to continue driving your vehicle while paying your loan.   Get Auto Car Title Loans Torrance CA and nearby cities Provide Car Title Loans, Auto Title Loans, Mobile Home Title Loans, RV/Motor Home Title Loans, Big Rigs Truck Title Loans, Motor Cycle Title Loans, Online Title Loans Near me, Bad Credit Loans, Personal Loans, Quick cash Loans  Contact Us: Get Auto Car Title Loans Torrance CA 1148 W Clarion Dr, Torrance, CA 90502  Phone : 424-306-1531 Email : atltorrance@gmail.com http://getautotitleloans.com/car-and-auto-title-loans-torrance-ca A traditional bank is not likely to give you a loan if you have no source of income. Credit card application forms also ask for your current income level and may reject you based on not having a job. You might want to make a list of income and expenses and look closely at which expenses can be reduced or eliminated. Use 6 months of your actual bills to calculate this list. Also make a list of your assets and liabilities. A sheet that lists income/expenses and assets/liabilities is called a Financial Statement. This is the most basic tool you'll need to get your expenses under control. There are many other options for raising capital to pay for your monthly expenses: Sell off your possessions that you no longer need or can't afford Ask for short term loan help from family and friends  Advertise for short term loan help on websites such as Kijiji Start a part-time business doing something that you like and people need. Tutoring, dog-walking, photography, you make the list and pick from it. Look into unemployment insurance. Apply as soon as you are out of work. The folks at the unemployment office are willing to answer all your questions and help you get what you need. Dip into your retirement fund. To reduce your expenses, here are a few things you may not have considered: If you own your home, make an appointment with your bank to discuss renegotiation of your mortgage payments. The bank will be more interested in helping you before you start missing payments than after. Depending on how much equity you have in your home, you may be able to significantly reduce payments by extending the life of the mortgage. Your banker will be impressed if you can bring them a balance sheet that shows your assets, liabilities, income and expenses.   As above, for car payments as well. Call your phone, cable, credit card, and internet service providers and tell them you want to cancel your service. This will immediately connect you to Customer Retention. Let them know that you are having a hard time paying your bill and will either have to negotiate a lower payment or cancel the service. This tactic can significantly reduce your payments. When you have your new job, there are some things you can do to make sure this doesn't happen again: Set aside 10% of your income in a savings account. Have it automatically deducted from your income at source if you can. 75% of Americans are 4 weeks away from bankruptcy. You can avoid this by forcing yourself to save enough to manage your household finances for 3 - 6 months, a year is better. If you own your own home, take out a line of credit against it based on the available equity. Your bank can help you with that. It won't cost you anything as long as you don't use it. This is emergency money; do not use it for vacations or car repairs. There will always be little emergencies in life, this line of credit is not for that.  Pay off your credit cards and loans, most expensive rate first. Use 10% of your income to do this. When the first one is paid off, use the 10% plus the interest you are now saving to pay off the next most expensive card/loan. Create a budget you can stick to. You can find a great budget calculator here: http://www.gailvazoxlade.com/resources/interactive_budget_worksheet.html Note I have no affiliation with the above-mentioned site, and have a great respect for this woman's ability to teach people about how to handle money. Just tell the buyer that there is a lien and explain the situation. Give them the car with a bill of sale after they buy the car from you. They can get a temporary tag at least in the State of Florida during this period of time. Take the buyer's money and deposit the check. Pay off your loan. Ask your bank to expedite the electronic title by paying a fee. I did this in March 2012 with no hassle at all. I was the seller. Some buyers may balk at this idea so just keep this in mind. No, we did not apply for the loan. So, this is why we thought it was a bit strange a company just sending you a real check for $30K. It does not say anywhere in big red letters that it is a loan. Probably something in very small letters on a back of a paper.  This is really horrible. Especially,if your customers do pay you by check and small business relies on online statement to determine who paid what. I can easily imagine a small outfit that just takes all the checks to the bank, cash them, and then use online statement to update their books.   I do not see how it is helpful to businesses to receive pre-approved credit that is so poorly marked. Especially in the age of electronic transfers!!!  I am trying to understand why I feel so offended by this, and I guess it all comes down to disgust: I refuse to believe that any serious company would use these sort of tactics and instead of us spending more time developing a better product, we have to put more time and effort into ensuring we do not fall victim to this. "If you're really interested in the long-term success of your business, and you can get by in your personal finances without taking anything from the business for the time being, then don't.   There is no ""legal requirement"" to pay yourself a prevailing wage if doing so would put the company out of business.  it is common for a company's principals not to draw wages from the business until it is viable enough to sustain payroll.  I was in that situation when I first began my business, so the notion that somehow I'm violating a law by being fiscally responsible for my own company is nonsense. Be wise with your new business.  You didn't state why you feel the need to take some kind of payment out, but this can be a crucial mistake if it imperils your business or if that money could be better spent on marketing or some other areas which improve revenues. You can always create a salary deferral agreement between yourself and your own company which basically states that the company owes you wages but you are, for the time being, willing to defer accepting them until such time that the company has sufficient revenues to pay you.  That's one solution, but the simplest answer is, if you don't need the money you're thinking of paying yourself, don't do it.  Let that money work for you in the business so that it pays off better in the long run. Good luck!" I don't know, ask the various companies I'm forced to do business with why in the hell they want me to stop by their office so I can drop a check off vs just using some means of digital payment.  I would fucking LOVE to ditch paper checks.