Should I Give a Car Dealer My Bank Statement?


If you are using a dealership to provide financing for a vehicle and you're asked to provide your bank statement, you should provide it. Usually, a dealer asks for your bank statement to verify income or your cash-on-hand. You can, however, provide your bank statement without providing too much of your personal information.

Income Verification

  • Your dealership has likely requested a recent bank statement to prove your income. For example, if you claim you have investment properties or receive direct deposit from an employer, your lender may want proof. Dealerships who work with outside lenders must follow lender protocol. In this case, it is not the dealer who has requested your bank statement, it is the lender who will provide your loan. You'll have to provide your bank statement to obtain your loan.

Bank Statement Safety

  • Find out who needs your bank statement and who will keep a copy of it. If your dealer is working with an outside lender, the dealer will fax a copy of the bank statement to the lender. The original statement you submit will also go to your lender once you complete your loan paperwork. If you have any questions about the security of your information, ask the dealership to explain its security policy. A dealer shouldn't keep your driver's license, credit application or bank statement in the dealership after you purchase your vehicle.

Account Information

  • The only information a dealer or lender needs from your bank statement is your bank's name, your name and address, your account number, balance and dates of deposit amounts. You do not have to provide information about your spending habits. Blackout your debit or charge information with a black marker if you're offering your full statement. Otherwise, you can ask your bank to create a letter that states all relevant information for your lender. Find out from your dealer what information it needs and acquire a letter from your bank rather than provide a full statement.

Alternative Option

  • If you don't want to provide a copy of your bank statement, consider applying for financing on your own. Finance through your own bank, who can easily check your spending habits and the amount of money you deposit per month. However, if a dealer is asking for proof of income, you may have an issue with your debt-to-income ratio, which is the amount of debts you pay each month in comparison to the amount of money you claim to make. You can apply for financing elsewhere and use the dealer as a last resort for financing if you prefer.


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