Beep! Beep! You’ve picked out a car and are keen to drive it home. Rather than purchasing the car outright, consider the benefits of buying it using finance.

There are loads of car finance options out there. How do you sieve through them all to find the most suitable rate and conditions for your circumstances?

Car Finance

Your Smartline Adviser can help you assess the wide range of options available, so you find the right car finance at a better rate.

We work in your corner, making the car-buying experience as smooth as possible. To make life even easier, here’s a list of documentation you may need to have at the ready when we process your car finance application.

1. Proof of identification
In most cases, you will need two items of personal identification:
– Primary photo ID, such as your driver’s licence or passport
– Secondary ID, such as your Medicare card.
Bring your ID to us, and we can make copies.

2. Proof of income
You may need to prove you are in a comfortable financial position to pay the lease on your car. If so, we need to collect proof of income.
Valid evidence might include:
– two recent payslips
– last group certificate
– your latest tax return
– recent bank statements
– recent Business Activity Statements
– proof of rental or investment income.
The lender may need more than one proof of income, particularly if you’re self-employed.

3. Proof of residence
You may also need to prove your address if your current address is not displayed on your driver’s licence. If so, present the following documents to prove your residence:
– your latest council rates notice
– tenancy agreement.

4. Information about the car
Some car loans are secured, which means the car itself is used as collateral against the loan. This can bring the interest rate down. If you are applying for a secured loan, you may need to provide documentation about the car you are purchasing, including registration details, VIN or chassis number, engine number, year/make/model and details of car insurance.

Make sure your paperwork is current and relevant. Any questions? Give us a call, and we can talk you through what you need, or book a chat with your Smartline Adviser to find out how car finance can work for you.

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.