What You’ll Need to Apply for a Car Loan

Are you thinking about buying one of the 2018 Mazda models in our new car inventory? If so, you might be thinking about taking out a car loan to finance your upcoming purchase. Many drivers who’ve purchased vehicles in the past have been through the financing process before so they know what to expect.

While that’s the case, the financing process can be a bit of a mystery for motorists who haven’t financed an automobile in the past. We’re happy to help people prepare for financing by letting them know what information they’ll need to provide.

Here are some of the things you’ll need when you apply for financing:

  • Proof of Identity: A government-issued ID like a driver’s license or passport is normally sufficient.
  • Proof of Income: If you work for someone else, your past few pay stubs are typically all that’s required to prove your income. If you’re self-employed, we’ll often need to see your federal tax returns from the previous two years to verify your income.
  • Proof of Residency: If the address on your license is out of date, you should bring a recent mortgage statement or a utility bill, credit or debit card statement, or a cell phone bill that has your name and physical address on it to prove where you live.

If you’re trading in a vehicle, you’ll also need to provide your current automobile’s title and registration. Whether or not you’re trading in a car, we’re going to look at other pieces of information, such as your credit history, when you apply for financing in addition to the aforementioned documents for our review.

To learn more about what you’ll need to apply for financing, contact our Mazda finance department near Kirkland, WA. We look forward to helping you secure financing at Milam Mazda soon!