When the time comes to begin financing a new Jeep near Memphis, there are some basic items that you will need to secure a car loan. Having proof of these things will make the entire car-buying process much easier. These are the basic car loan requirements:
You need to show that you are covered before you buy a new car. If you don’t have insurance before you go to buy the car, then you can set it up at the dealership. However, it’s better to plan ahead so you can get the best plan for your situation.
Proof of Income
Recent pay stubs or bank statements will show that you have money coming in and will be able to keep up with loan payments. Many lenders will contact your employer for verification as well. Any assets you can provide as collateral such as credit cards or other outstanding loans in your name will help establish proof of income.
Proof of Identification
Unless you are dealing with your current bank or credit union, then lenders will need to see some identification on who is financing a RAM truck near Memphis. There is a point system involved, which means you’ll need a photo ID and then additional items like any bills with your name on them, titles to another vehicle, or a passport.
Proof of Residence
Lenders need to know where you live just in case you stop paying bills or they need to send you important documents. All you will need for this is a recent utility bill.
Contact Mid South Auto Loans today if you are looking to finance a new Jeep or RAM truck near Memphis today. To get started, give us a call at (901)316-3434.