Get these together before you start, and you'll likely get your money sooner. Here's what lenders usually ask to see.
A title in your name
Your title is what this loan is built on. It should show you as the owner, with no other loan on the vehicle. Paid off a car loan not long ago? Check that the old lender was taken off the title. That step is called a lien release, and it leaves you as the only owner. If someone else is on the title with you, they may need to sign on too.
A photo ID
Most people use their driver's license. A state ID card or a passport usually works as well. Just make sure the name on it matches your title. That's how the lender knows the vehicle is yours.
Insurance and registration
Your vehicle needs active insurance and up-to-date registration. Together they show it's legal to drive and covered while you pay off the loan. Check that your insurance policy lists this vehicle.
Age 18 or over
You need to be at least 18 to sign a loan agreement. Some states set the legal age for contracts higher. If yours does, you need to meet that age instead.
Vehicle photos
No one comes out to look at your vehicle. Your photos do that job. Take a picture of each side, the inside, the odometer and the VIN plate. Clear photos help the lender check its condition and value, and that can mean a bigger loan.
Proof of income
The lender wants to know the payments will fit your budget. Recent pay stubs or bank statements usually work. So do records of benefits, a pension or self-employment. They should show at least $1,500 coming in each month.
Ways to move faster
- Shoot your vehicle photos in daylight. Include the odometer and the VIN plate, which is on the driver's side of the dashboard or inside the door frame.
- Keep digital copies of your two most recent pay stubs or bank statements, ready to upload.
- Check that your name and address match on your ID, your title and your proof of residence.
- Keep your phone close, and reply quickly to calls or texts about your application.