How to Qualify for a Car Loan

How to Qualify for a Car Loan


Looking for an auto loan in Prosser, WA? The best way to prepare yourself in applying for an auto loan is to ensure you have all the documents and information needed. It's a good idea to know what your credit score looks like, as it is a big part of being able to get the loan approved. Good credit will make it easier for you to get a car loan, but isn't always needed. What is considered "Good Credit" varies by credit lender, but a good credit score can help you receive a lower APR (annual percentage rate) on your car loan. Don't worry, even if you have bad credit or no credit, we may have lending options available for you.

What You'll Need to Apply for an Auto Loan

  • Proof of Identity and Residence: These documents include your driver's license or another form of government-issued identification (like a drivers or fishing license), and a piece of personal mail (if it is the same on your ID, some lenders will not ask for this).
  • Proof of Income: Lenders want to know that you're able to make the payments by having a source of income. The proof of income includes your recent pay stubs (bring multiple!), a W-2, or even bank statements. The lenders may also contact your employer for proof of employment as well.
  • Proof of Insurance: It is the law to have insurance on a vehicle before it is driven off the lot. This can be done ahead of time, or at the dealership. If you have an existing policy, be sure to check with your company about insurance transfer options. Some have a convenient grace period!
  • Current Vehicle Information: If you are looking to trade in your current vehicle, make sure to bring your car's title and registration.

Contact our finance team here at Speck Chevrolet Buick of Prosser for more information on what to bring to qualify for a car loan. We're here to help!

We've also made it easy to get your loan process started with our easy online finance application. Click here to get started!

How Can We Help?

  1. Speck Chevrolet Buick of Prosser

    314 SIXTH ST
    PROSSER, WA 99350

    • Sales: (509) 252-0660
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  • Contact our Sales Department at: (509) 252-0660
  • Monday8:00 am - 7:00 pm
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