What You Need to Apply for Financing

July 19th, 2018 by

Looking for Volkswagen cars for sale is a lot of fun, isn’t it? Well, it’s even more enjoyable when you look through the new car inventory we have at our VW dealership near Lake Ozark, MO. That’s because we have a generous selection of the latest VW models and we never pressure drivers to buy or lease an automobile.

Our goal is to provide a pleasant experience whenever you visit our Volkswagen dealership for any reason, and this includes instances where you apply for financing. We know many motorists get nervous when they apply for financing, but there’s no reason to be concerned when you apply for a car loan or lease package through our Volkswagen financing department.

One way to calm your nerves about applying for financing is to learn what you’ll typically need to apply for a loan. While some dealerships may have different requirements, you’ll normally have to provide the following:

  • Proof of Identity: Federal law requires you to provide proof of identify when you apply for a car loan. In general, you’ll need to provide a government-issued ID that has your picture and address on it, such as a driver’s license or passport.
  • Proof of Income: Lenders will want to see proof that you’re able to repay your loan, which is why you’ll need to provide proof of your income. A few recent pay stubs will typically suffice as proof of your income. If you’re self-employed, you may have to provide copies of your federal tax returns from the past few years instead.
  • Proof of Residence: Federal law also mandates that you provide proof of where you live. A current driver’s license or a mortgage statement is often enough to satisfy this requirement.
  • Proof of Insurance: You’ll have to prove that you have adequate insurance before you can head home with the car you buy or lease.

To learn more about financing through our VW finance center, contact Joe Machens Volkswagen today.

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