The dreaded paperwork. It’s a tedious part of life but a necessary process we can’t avoid. We’ve tried to make it easier for you by putting together a checklist of some of the documentation that you may need to support your car loan application.

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Identification

It’s time to prove yourself. Usually when applying for a loan you need to provide identification in accordance with the ID check system.

Have your driver’s license or passport ready as well as your birth certificate and Medicare card, or two additional cards with your name and photo on them, to prove you are who you say you are.

Contact details

It sounds silly that you wouldn’t know your own number, but you don’t call yourself, do you? Make sure you have all of your contact details on you, such as address and phone numbers, so that you don’t slow down the application process.

Copies of bank statements

It sounds silly that you wouldn’t know your own number, but you don’t call yourself, do you? Make sure you have all your contact details on you, such as your address and phone numbers, so that you don’t slow down the application process.

Credit history records

Be prepared for your credit history to be studied. While it can feel a little intrusive, a credit check is a comprehensive way for lenders to determine if you are going to be able to make the loan repayments.

If you have any credit cards or other loans, they may ask to see copies of the past few statements for evidence that you can meet the repayments and have not defaulted.

If you’ve never held a loan or a credit card before, don’t worry: proof of income and any bills such as phone or electricity and even rental payment receipts can all count towards your credit history.

Proof of income

Unfortunately, your word doesn’t carry the same weight it would have in the old days. To prove you earn the amount that you state on your application, you will need to provide pay slips from the past few months. If you don’t have copies of these, you may be able to use your most recent tax return or group certificates. However, check with your lender to see if they will accept these.

Car details

If you are using the car to secure against the loan, you will need to provide details of the car, such as registration and engine number. If you buy it from a dealer, you may need to provide their details, as your lender may need to make a cheque directly to the dealer. You may also need a copy of the receipt when you purchase it to prove the cost.

RateCity's Car Loans Guide