How to get approved for the car loan?

Okay here's the deal, a week ago my car got stolen outside my own house. It's yet to be recovered and I live very close to the Mexican border so it's probably chopped up for parts. It was a dying old beat up 96 Honda Accord not worth more than 1,000. So in considering it gone I tried to go get a car loan. I'm a server for a restaurant, I depend on my tips as income and I make over 1,000 a month. I tried to pull 5,000 as acar loan over 66 months. Upon review, my credit score was acceptable but they declined me because they don't view "tips" as a source of income. They suggested I find someone to cosign which would have to be my father but he's not to keen on doing so (for good reason, who would?). Because it is income they are looking for what if he wrote me a check every two weeks and I deposited it as income as though I were paid for labor? That would then increase my monthly income and of course I'd pay him the exact amount in cash under the table for the biweekly checks he would write. Would this benefit me by chance? With the job that I have I'd be able to afford the 100$ increase in expenses from the loan I'm trying to receive, I find it absurd that I must apply my tips earned for federal taxes as "income" but when I need my "income" to benefit it's not all accounted for through the bank system.

When you apply for a car loan, they factor in the price of the car, the amount of time to pay it back, your credit score, your income. As a server, your income does not include tips, since it changes depending on business, whereas your flat rate income will be the same whether the restaurant is crowded or empty. If your dad gave you money, it would not count as income. They won't be able to use that toward your loan.

You should just do what they suggest, to have your dad co-sign for you (unless he has bad credit or no income, etc.) What that means, is that if you are unable to pay your loan back, he will (also) be responsible to pay it back. It does not mean that you both will have to pay. Its just a backup in case you decide to stop paying the loan back for any reason. He will also have to go through the credit check and what not, but together, your incomes should be able to be good enough to afford the loan you want for the car. If not your father, maybe mother or friend?

There are a number of things wrong and in many cases illegal with your idea of your dad writing you a check and your claiming it was income but paying him back in cash.

Try another lender. If you've been claiming your tips on your taxes, and have been working long enough, most will consider it income.