Documents you will need

When ready to apply for a car loan, there are some documents you'll need on hand. First, you must show proof of income. Lenders want to ensure that you will be able to make monthly loan payments being offered. His proof of income could be a copy of your last month of paycheck stubs, tax returns and other documents as proof of alimony or Social Security. The more income you can show the lender, the greater the amount of money you may qualify. Your lender also will want to know about your bank and credit history. It is likely that your lender requires a credit report. You may be asked to present some of its current bank statements, mortgage or lease statements, or some other proof of your credit history. Another piece of documentation required when applying for car loans is a proof of address. A piece of mail or a utility bill could be sufficient. If you have already chosen a car and not just the auto loan application for prior approval, you need some information on the vehicle. The leaf dealer for car loans, is usually sufficient. If you are buying a used car, you need the title, disclosures, however, mileage, VIN, make, model and year. The lender will also want to know the purchase price. You also have to prove that they have purchased insurance on the vehicle.