What Do I Need To Provide To Be Approved For A Car Loan

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What Do I Need To Provide To Be Approved For A Car Loan

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What Do I Need To Provide To Be Approved For A Car Loan2020-10-05T13:59:34+00:00

These Are The 4 Items We Need To Put You Behind The Wheel

Drivers License

It is necessary to have a valid driver’s license and be the age of majority in the province that you live in. Lenders know that customers are more likely to pay back their car loan if they can legally drive.

Proof of Income

Typically you need to be at your current job for three or more months and make at least $1800/month. Other forms of income, such as certain types of government assistance may also be accepted.

Bank Account

Your lender wants to be able to take the payment out of your bank account each month. The easiest way to do this is to provide a void cheque or pre-authorized payment form.

Current Address

In order to complete your loan documents you must provide the lender with your current address.

 

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