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How do I apply for a car loan?

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  • Over 18 years of age, and in some cases over 21
  • An Australian citizen or permanent resident
  • Earning at least $25,000 per year, from a regular, proven source of income (If you are self-employed you will have to provide additional information)
  • The holder of a provisional or full driver’s licence
  • Proof of identification: an Australian driver’s licence or a passport
  • Proof of address: copies of your recent utility bills
  • Verification of a stable income: payslips, bank statements or tax returns
  • Details of your expenses and liabilities: bank, credit card and loan statements
  • Your employment stability
  • Your income (e.g. salary, rent, interest, etc.)
  • Your expenses (e.g. mortgage, groceries, etc.)
  • Your repayment history on other loans
  • Credit agency/bureau information  (credit report and score/rating)
  • How much money you’ve borrowed in the past
  • How much credit you currently have
  • How many, and what type of credit applications, you’ve made (This can now include payday loans and buy-now-pay-later services such as AfterPay)
  • Whether you usually pay your bills and loan repayments on time
  • Any loan defaults
  • Any court judgments
  • Information from your bank, telco, insurance and utility companies
  • Your age, address and employment situation
  • Up to two years of your general financial history

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