What you need to apply for finance

Being prepared can make your car application process go quicker...

Make sure that you’ve done all your homework before you go to apply for finance. You don’t want to feel silly or pressurised when you get there, and your best defence is making sure you’re prepared.

Double-check that you can afford the car you want (remembering the total cost of owning a car), know the facts about interest rate types and depreciation, and do your calculations to choose your finance term and whether you want a balloon payment. You should also check on your credit score – you can get one free credit report a year.

When you go along to do the application, make sure you take all your documents with you to help it all go ahead smoothly:

  • Your original ID document – the green barcoded ID book or the smart ID card
  • Your driving licence
  • Your last three payslips or three months’ bank statements
  • Your proof of residence, for example a utility bill (less than three months old) or a recently signed lease agreement

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