What Documents to Bring When Buying or Leasing a Vehicle
Buying or leasing a new vehicle is a process, as many drivers already know. The finance department has to run your paperwork before sending you on your way behind the wheel of your new vehicle. Knowing what paperwork and documents you need for the big day can really speed things along. Here’s a quick list of what you should bring to the dealership the day you plan on leaving with a new car.
- Title – If you plan on trading in your old car to lower the cost of a new one, don’t forget to bring the vehicle’s title with you. If you forget the title, it’s not the end of the world. The dealership will have to contact the Department of Motor Vehicles for proof that you really do own the car.
- Income – In order to buy or lease a car, there needs to be some evidence that you can afford to make the monthly payments. Proof of income can come in the form of a bank statement or paycheck stub. Either one will work for the dealership and will quickly satisfy that requirement.
- Residence – The dealership has to confirm that you live where you say you live. If not, monthly bills could go unpaid and that leaves them out in the cold. To provide proof of residence, bring a utility bill, mortgage agreement, or some other document, preferably a bill, with your name and address on it.
- Insurance – Before you can leave the lot, a dealership has to confirm you have proper insurance. Make a phone call to your insurance company and let them know you plan on leaving the dealership with a new car. After that, you’ll need to provide a valid insurance card to the dealership.
- Identification – If you drove to the dealership, odds are you already have a valid driver’s license. That can serve as a valid form of identification for the dealership.