What Documents do you need for Car Finance?
The Lender's Checks include Proof of Identity and Personal Details
Lenders need documents/paperwork when you apply for car finance to verify you are who you say you are, protect you from identity theft, and ensure they don’t borrow more than you can realistically afford.
Read below to understand what documents you need to provide for the lender to process your car finance application. It’ll be much easier if you know in advance.
These documents needed for car finance applications will be requested no matter whether your credit is excellent, fair, bad or even been refused car finance elsewhere and are typically the same throughout the UK.
The documents you’ll need to complete your car finance application can vary depending on the lender that approves you. When the lender requires additional documents/paperwork, we’ll notify you and sort all the admin.
We work with lenders that can help people find bad credit car finance, even if they’ve been refused elsewhere.
What paperwork will I need to apply for car finance?
You’ll need your details to start the application the usual full name, date of birth, and address. This basic information is sufficient to identify your application and conduct a soft check on your credit history.
Proof of Address
When completing your car finance application, double-check your address lender’s request for proof of residence especially if you’re not on the electoral register). You’ll likely need to show a gas, electricity, water or Council Tax bill no more than sixty days old.
A driving licence is a must when you apply for a car loan; it doubles up as your photo proof of identity. An alternative to your driving licence is a passport; however, additional checks regarding licence status will need to be made with the DVLA. Few car finance lenders will accept an application with a provisional licence, and even fewer without a licence.
Proof of income
Lenders want to know if you can afford the repayments and require proof of income, usually copies of bank statements for three months.
When you accept an offer of finance, you’ll need to give bank details for the account you are to make your monthly payments.
Occasionally you may need to supply a selfie photo. When you make an online application, if the lender is struggling to identify who you are, then for your protection, it’s the norm to ask for you to provide a photo holding your driving licence to ensure that nobody is impersonating you.