Paperwork is a part of life, and getting finance for something like a car loan is no different. Lenders need documentation to prove your identity, place of address and your ability to repay the loan.

In this article, we break down what you typically need to have prepared before having a crack at a car loan.

Identifying documents

Firstly, you need to prove you are you. Having “100 points of ID” is not a bad place to start. Typically that means your driver’s licence (copies of front and back), passport and Medicare card. You should have proof of residence such as council rates or a utility bill, that displays your name and address. If you don’t have a scanner, you can simply take photos of these using your phone.

Proof of income

You may be asked to supply your two most recent payslips or more; and bank statements going back three months or more. You may be asked to provide a detailed breakdown of your living expenses; details about other loans such as your mortgage; and proof of other assets and liabilities, including your super.

What you need if you’re self-employed

Bank statements may also be requested. A business car loan is a different kettle of fish and you may be asked for proof of a registered ABN, assets and liabilities and evidence you are making a profit. 

Other documents you may need at some stage

Depending on what stage of the loan process you’re at, you may be asked to provide a certificate of registration with the vehicle in your name; or a tax invoice for the car you’re purchasing. Ensure it displays the registration number, VIN or chassis number, engine number and agreed purchase price. Make sure you also present a receipt for any deposit paid.

If you’re purchasing through a dealer or at an auction, a lender may request an invoice with the dealer’s ABN and name, your name and the aforementioned details about the vehicle.

A lender may request you have organised comprehensive car insurance prior to proceeding with finance.

The takeaway

Most people won’t need much more than ID and proof of income to apply for a car loan. But making sure you have these ready to go can speed the process up a lot.

Many lenders ensure the paperwork is not a nightmare-inducing situation thanks to modern technology. “We utilise an online service, so you don't need to go into your bank and print it all out,” Head of Marketing at Stratton Finance, Chris Dimopoulos, told CarExpert.

Have everything in order and your next new car could be in your driveway a lot sooner.

Disclaimer: The information on this website is for general purposes only and not a substitute for professional financial advice. CarExpert recommends seeking independent legal, financial, taxation or other advice unique to your individual circumstances. is a Author at CarExpert.