FAQs

What information do I need to apply?

Before you can taste freedom behind the wheels of your new car, you’ll need to provide some documents to back up the information in your car loan application. 

Lenders ask for these documents to prove your identity and financial situation so that they can assess whether you will be a trustworthy borrower. Basically, they want to know that you have the ability to repay the car loan without falling into financial difficulty. 

Follow our guide for an overview of the type of documents you may need to provide when you apply for your car loan:

  • 100 points of ID. For example, your driver’s license, passport, Medicare card, etc.
  • Proof of residence, such as council rates or a utility bill that confirms your address.
  • Proof of income, such as recent payslips, a tax return, a group certificate or current bank statements. Lenders may also ask for a letter from your employer stating your employment details.
  • Proof of savings, such as bank statements or investment documents that show you have the ability to regularly save money from your income.
  • Assets, including property or other vehicles that you own.
  • Liabilities, including any other debts or loans in your name, such as credit cards.
  • Proof of comprehensive car insurance to show you’re covered in case you are hit with a damages claim in the future.
  • Contact details for people who can authenticate these details, such as your employer, landlord or accountant.

Details about your car 

Lenders may ask for the details of the car you wish to buy so they can understand how much it will cost and how much you’ll need to borrow. You could be asked to provide documents such as:

  • An invoice from the dealership or a contract of sale
  • Vehicle chassis number
  • The year, make and model of the car
  • Registration details
  • Details on the fuel efficiency of the car
  • Confirmation of comprehensive car insurance
  • Vehicle chassis number

These days, the process of applying for a car loan is quick and hassle-free. With most of the application handled online, it’s possible to complete your application and be approved for a car loan within just a few days. 

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