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Roger, Attorney
Category: Business Law
Satisfied Customers: 31729
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I want to buy a car but my credit isn't great but my wife

Customer Question

I want to buy a car but my credit isn't great but my wife has really good credit. I went to a local dealer who's been in business since 1997 and they told me that since I own an LLC my wife could qualify for the car loan with their credit union. In fact they approved us but they said there was three stipulations, 1. Provide a utility bill with my wife's name on it, which is no problem. 2. For me to create a letter and state that my wife has worked for my company for three years and 3. For me to create a w-2 showing income, fica deductions etc erc. Now obviously my wife owns 50% of the LLC but is this legal to create these types of documents for the credit union to have in their file? Concerned about this should I be?
Submitted: 1 year ago.
Category: Business Law
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

If 2 and 3 are not true, then you certainly should not fabricate the documents to create a facade to let you get a car loan. This would be fraud by you and your company.....and falsifying a government document (W-2), which is a federal offense. So, it's not worth it. You're better off to just let the vehicle be titled in your wife's name.

Customer: replied 1 year ago.
It's my wife's name that they want the car loan to go through since she has the great credit so again I would believe same principle applies being that she does not work for my company as a W-2 employee but owns 50% of my LLC. If this was provided to them could this come back to hot me if they share the information they're telling me this is normal standard practice for self-employed business people like myself I just of never done it this way.
Expert:  Roger replied 1 year ago.

You're falsifying documents, so yes, it would be illegal and could come back to haunt you if the dealership, her or your company is ever audited....which is certainly possible..

Customer: replied 1 year ago.
Then these guys are shysters pushing deals through I'm shocked by this. I will stay clear away from this.
Expert:  Roger replied 1 year ago.

They're just trying to sell a vehicle, and I understand that, but you shouldn't commit fraud in order to get it done......So, you're much better off to stay clear of this.

Expert:  Roger replied 1 year ago.

Please let me know if you need anything further. Also, please take time to positively rate our conversation so I may receive credit for assisting. Thanks again!