The public has questions about auto financing. They want to know what questions to bring to the table when they go to purchase a vehicle. They also want to know what documents and vital information to tote along to take care of the auto-financing experience all in one sitting, if possible. We have the answers for them right here.

What To Bring Along When Purchasing An Automobile

A few key documents can make the difference between financing a vehicle and walking off the lot with it or not. Bring the documents, and you have a chance of getting approved. Forget to bring them, and we can’t do anything for you until we see them.

Driver’s License- We need to know that the person we are going to sell a vehicle to has the legal right to operate one. We also use this to confirm the identity of the individual making the purchase.

Pay Stub- A proof of income is necessary for financing purposes as the seller needs to know that the buyer has some means to pay them back on their auto loan.

Car Insurance- A simple proof of car insurance is required as well given that it is the law that drivers must have car insurance to operate their vehicle.

Proof Of Residency- A piece of mail is typically all that is required here to prove that an individual lives where they say they live. Proof of residency can do a lot to help get auto financing pushed through.

References- Similar to a job interview, a list of references can be beneficial in building trust and a great relationship with us. We may even call up a reference or two to get an idea of your character and ability to repay.

Credit Score- We will have to pull your credit report anyway, but it is a good practice to bring it along. We need to know this three-digit score to help assess your handling of loans in the past. Bringing it with you is a sign of strength in your ability to repay.

Current Title- If you are trading in a vehicle at the time of purchase of a new one, then you need to bring in the certificate of title of the car you already own to show that you are the legal owner of that vehicle.

FAQs Regarding The Process

Now that you know the documents to bring with you, it is essential to understand some of the questions that you should ask. Understand, we are here to provide you with a friendly and comfortable experience. We don’t want any aspect of this transaction to make you nervous or uneasy. We believe that we can come to a deal with you that works for both you and us.

What Is The Interest Rate?

This is among the most common questions that we receive as people want to know what amount of money they will spend to finance their vehicle. The number is based on a variety of factors, including the credit score of the borrower and what likelihood we assess that the borrower will pay back the loan. Low-risk borrowers have the greatest chance to get a low-interest rate.

Can Someone With Bad Credit Apply?

Absolutely! We accept applications from people with all kinds of credit scores. We certainly cannot guarantee that you will be accepted with a poor credit score, but we work with everyone that we can attempt to get them into the vehicle that they want.

Is Your Dealership Family-Friendly?

Looking for a vehicle for someone else in your family besides yourself? We are a family-friendly operation here that cares about what our customers think of us. We don’t ever consider you just a number, and we certainly do not take your business for granted. We seek to serve everyone, and you are more than welcomed to bring family members in to shop for vehicles as well.

Categories: Finance