When you apply for car finance, you’ll need to provide certain documents and proofs before you’ll be accepted. You will also be given some documents to sign and return. In this blog, we will explain everything you might need before you can apply for car finance. That way, when you apply for car finance you can ensure the process will be quick and easy.
To apply for car finance, you will need to be able to prove your identity. The easiest way to do this is with a driving licence as this is the primary way that car finance providers will accept as proof. If you still have the paper part of your licence, you can include this in your documents, however we need a copy of both sides of the photo ID card.
In some circumstances, you can also use a passport as proof of identity but this will depend on the lender we match you with. If you need to update your driving licence ID card, the best place to visit is the DVLA website which has all the information and links you’ll need to get your licence up to date.
A key part of your application is being able to prove you can afford the payments, so before you apply for car finance you’ll want to get some proof of income. This can either be your previous three months payslips or bank statements. If you are self employed, then you will definitely need bank statements.
You can apply for car finance when you are on benefits, however you will need to prove that at least half your income comes from some sort of employment. For details on the benefits that are accepted, please visit our proof of income help and advice page.
In some instances, such as when you cannot provide payslips, we may need to call your employer to prove that you work there. We will not provide any information about your application and the call is just for a quick confirmation.
Traceability is an important aspect of your application, so you will need to know your address history for the past three years. You do not need proof for your previous addresses (current address will be on your driving licence), just the details of every permanent residence for the past 36 months. Having this ready before you apply for car finance can speed up the process.
Throughout the process, you will need to be able to send us your proofs and signed documents. The quickest way to do this is by scanning the documents. If you do not have access to a scanner, you will need to find another way to send. Photographs can be used but the document must have enough quality to clearly read all the text on the page.
You can post your documents to us via UK signed delivery, but this is generally slower than via email. So having the facility to send documents digitally in advance will speed up your car finance application.
Here’s our checklist to go through before you apply for car finance. If you can check all these boxes, then there should be no snags in your application.
Once you’ve applied for car finance, you can move onto the fun part – choosing your car. Whether you know exactly what you want, have a vague idea of what you you’re after, or just want to see what you can get finance for, your customer advisor will be able to help you as much or as little as you need.
Applying with Creditplus is a simple process that won’t affect your credit file. Our soft credit search means that when you apply, you won’t risk damaging your file. What’s more, we’ll compare over 100 lending options to find the best package. Applying just takes two minutes so you could soon be on the road to your new car.