In order to qualify for a car loan, you’ll need to prove that you have a steady source of income.
Pay stubs or bank statements are generally sufficient proof, though some lenders will want to call your employer for verification.
Any assets you can cite may be used as additional collateral to secure the loan.
Do you need a driving license for car finance?
No, you do not. You will need a full licence if you intend to drive the car on your own, however you do not need one to apply for car finance. You will need to provide some form of identification so you will need a provisional licence or passport.
What documents do I need for car finance?
What paperwork do I need to get a car on finance?
- Driving Licence. Your driving licence will be required regardless of your credit profile and lender.
- A Selfie.
- Proof of employment and earnings.
- Bank Account Details.
Photo in the article by “Geograph”