Saturday, October 31, 2009

If your on Social Security Disability Benefits for an illness can you lease a truck with out penalties?


Answers:
The only thing I can see impacting it would be if its for a business. If this is the case then make sure you read up on your social security income guidelines and stay below what your allowed to make. Otherwise no if its personal you can buy or lease a vehicle without any impact. You may however need to get a statement from social security for proof of income if proof is required.
As long as you have a drivers license I don't know why you couldn't.
One should have nothing to do with the other, unless the disability is something which affects your driving, like epilepsy.
if you make money with the truck the income will affect your benefits.
if you are the owner of the truck it could as it is an extra income and my be classed your work ... if you are renting one it will not mater as long as you are not loading the truck that means you are well to work.
Hope that helps
All dealerships look for is consistent income and that the truck payment is no more than certain percentage of your income. That is called debt to income. That also affects your credit worthiness. Before they run your credit, they can do a pre-approval by you bringing your on credit report and telling them whats on your credit. I know thats more info than you asked but it is good to be informed when buying a vehicle. Also you may have an issue if you are doing anything that will cause you to make money with the vehice. Anything that will give you more money may affect you benefits.
What........
What has being on disability got to do with driving a truck..

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