When it comes to financing your car in Ireland, there are a number of documents you will need to provide. Before entering an agreement, having everything lined up and organised is vital to a smooth and enjoyable car finance process. Unsure of what is required when it comes to financing? You’re in luck; our blog details everything you need to apply for car finance.
Proof of Identity
As you can imagine, proof of identity is necessary when applying for finance. Proof of identity gives the lender confirmation that you are who you say you are, and from here, checks can commence. In the case of identity documents, a photo ID in the form of a passport or driver’s license is all you need.
Proof of Income
Regarding car finance, proof of funds to meet repayments is critical. Without sufficient evidence that you can afford the finance you are enquiring about, a lender won’t see you as fit for a loan. The best proof of income comes in the form of payslips, which show your monthly income and prove that you can afford finance. Alternatively, bank statements are a good option as they also showcase incomings and outgoings and show your monthly financial behaviour.
Proof of Residence
Back to the ID side of things, providing proof of residence is likely to be required by all loan providers. Proving your residence can be done via utility bills or anything that states your name and address together.
Proof of Insurance
In some cases, finance providers will require proof that you have car insurance. This is not common in all cases, although we recommend having insurance ready before entering a car finance agreement. Proof of a commitment to insure your new car should suffice. We have covered everything you need to know about car insurance in a separate blog.
Accepting Credit Checks
Although not a document, consenting to credit checks is an important step to consider in the car finance process. As you may be aware, credit checks can leave a mark on your credit file, something that is common throughout car finance agreements. Consider whether you are willing to accept a credit check, as this will directly impact your ability to finance.
Closing Advice
As you can expect, the better you are prepared, the smoother the car finance journey. Before applying, have all the required documents ready, and have a good idea of the type of vehicle you are looking for finance on. If you have found a specific car that you are particularly interested in, this can accelerate your car finance process even further.
Now you know what is needed to apply for car finance, click here to start your car finance journey with a reputable Irish car refinance lender. Make the most of hire purchase car finance, and gain ownership of your vehicle at the end of the finance agreement. What are you waiting for, apply for car finance today via our easy-to-complete form and receive a decision quickly and efficiently. Benefit from a family approach to finance, and make the most of our well-respected processes and service.