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Buying a car

Posted on 5/23/13 at 7:07 pm
Posted by tojoe
Scott
Member since Oct 2010
335 posts
Posted on 5/23/13 at 7:07 pm
What will the bank need to finance the vehicle?
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75130 posts
Posted on 5/23/13 at 8:12 pm to
W-2 and maybe a recent bank statement with proof of income
Posted by Chris4x4gill2
North Alabama
Member since Nov 2008
3092 posts
Posted on 5/23/13 at 10:26 pm to
Recent pay stub.
Posted by mglsu21
Prairieville
Member since Jun 2012
1260 posts
Posted on 5/24/13 at 6:23 am to
The bank could need any of the following:

DL, SS card, paystubs, W2, insurance binder, bill of sale, etc, etc.

Is this a car purchase from dealership or private party? If from dealership I almost always suggest getting an approval from an outside source before going in and keeping that info in your pocket. Then have the dealership runs your credit and make sure they beat the rate you got approved for elsewhere. If not then pull out the paperwork and tell them to beat it if they want the financing business.

It is always so much easier for the dealership to do the financing for you. If done directly thru your bank then you will be running around trying to get all the paperwork done....So much of a hassle. Plus the dealership can pull from many different financing arms and often get a better rate.
Posted by lsuconnman
Baton rouge
Member since Feb 2007
2631 posts
Posted on 6/1/13 at 10:56 am to
I just purchased a car through a private party, and put together the paperwork for paying off the seller's lien, paying the seller, and the docs to satisfy my lender. It was pretty simple, If you want my packet, just email me at my username@ yahoo.com
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 6/2/13 at 7:44 am to
Ask the bank, it just takes a phone call.
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