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#1
Old 08-01-2005, 01:52 PM
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Join Date: Nov 2001
Location: West Des Moines, Iowa
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My auto loan is asking for references? Why/what kind?

I'm applying for a car loan, for which I am approved, but they are requiring a pay stub and 2 references. Now, the pay stub I understand, but 2 references? Do they mean 2 professional references (yes she works here) or 2 personal references? And why are they asking for references? Especially now, after being approved -- are they planning to call these people? Should I have phone numbers only or addresses too?

Any help much appreciated!
#2
Old 08-01-2005, 01:56 PM
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Location: Washington, DC
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Quote:
Originally Posted by fluiddruid
Do they mean 2 professional references (yes she works here) or 2 personal references?
You're best off calling the person who is handling your loan and asking them this question.
#3
Old 08-01-2005, 02:01 PM
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Location: Grits Country
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Could they mean credit references? Such as, other loans or revolving accounts you have. (Best to ask them to make sure, though.)
#4
Old 08-01-2005, 02:33 PM
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Join Date: Mar 2003
Location: Austin TX USA
Posts: 1,633
Generally, when a lender is asking for references they mean "Give us the name of two people who will know where you are living so that if you move and don't tell us and skip out on your bill, we can bug them to tell us where you are."

Call the loan officer ot be sure that's what they want, but that's SOP with many loans (especially student loans).
#5
Old 08-01-2005, 05:26 PM
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Location: West Des Moines, Iowa
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Well, I signed the papers and completed the deal and they never asked me for the references after all, just the pay stub, so I guess this will be a mystery for the ages.
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