Requirements for Financing Approval
When you are going to buy a vehicle, you’re going to have to go through a lot of different processes before you can drive your recently purchased vehicle off of the dealership lot. Many drivers who are looking to buy a pre-owned vehicle will need to apply for financing. When you apply for financing at Royal Automotive in Denver, CO, you’ll need to bring some information with you, which will make the process easier and more efficient. No matter what your financial situation is, Royal Automotive provides financing options for everyone. In order to apply for vehicle financing, you will need to bring:
Identification or License
When you’re applying for financing, you need your license or any other form of identification, like a state-issued ID card or passport to prove your identity.
Individual Tax Payer Identification Number or Social Security Number
In order to qualify for vehicle financing, you’ll need to provide the dealership with either your Individual Tax Payer Identification Number or Social Security Number. This is used to view your credit report, which provides the information needed to determine your finance package.
Proof of employment
To certify that you’ll be in a position to make your monthly payments after receiving financing, Royal Automotive requests that you present proof of employment. Sufficient proof of employment includes a check stub, your four most current bank statements, W2 or 1099 tax paperwork, or a letter of work.
When going to the dealership for financing, you’ll need to bring the names, phone numbers, and addresses of six references. In order to qualify as a reference, the person must be a friend or someone you know who doesn’t share the same residence as you.
Deposit or vehicle trade-in
The last thing you need to bring with you when buying your new pre-owned vehicle is a deposit or vehicle to trade-in. However you want to make your deposit, Royal Automotive will work with you to help you get behind the wheel of a pre-owned model that fits your needs.
All are Approved!
While applying for vehicle financing can seem overwhelming, the experts at Royal Automotive will make the process as quick and easy as possible. You can learn more about your options, or even apply for pre-approval online, which will make financing when you get to the dealership even easier. Visit Royal Automotive in the Denver, CO, area to find the pre-owned vehicle that is perfect for you and financing options for any financial situation.