Must Know for Buyers: Car Loan Requirement & Crazy 88 Auto Loans

 

crazy-88auto-loansApplying for a car loan can be a source of stress for a lot of people but this is not the case ate Crazy 88 auto loans. In many banks and companies, you won’t get approved because of bad credit yet, there is just too much paperwork to be completed.

Stop. Take a deep breath. Read through this article. Here is a basic listing of everything which may be asked of you when you do visit a bank, any other financial institution or a car dealership for an auto loan.

Identification Cards, Etc.

This is usually one of the first things which banks and other financial institutions will look for, naturally. They will forgo the whole shebang if you have done business with them in the past but they will still ask for a few IDs or documents.

Some car dealers may overlook this bit but this is also very important if you have decided to apply for Crazy 88 auto loans.

Usually, these are: a photo ID with your signature on it, original copies of current utility bills (electricity, water, phone, etc.) registered to the address on your photo ID and the bank statements for the month and the month before this. The last one should also indicate the same address of the first two.

Here, you would notice how important proof of residence is for these financial institutions. This is the easiest way that the banks will know where to send the bills.

If you have other IDs like insurance, stock certificates, and government issued cards, bring it with you as well.

Proof of Income

It is quite obvious why banks and lending agencies will want to see this. They want to be assured that they will get paid. The same is true if you want to get Crazy 88 auto loans.

Here are some examples of the papers you need to show: bank statements or pay stubs, documents of other assets which can be used as collateral for your loan, credit cards, verified papers for other loans you made and mortgage documents.

Insurance Policy for the Car

You will need to show this to the bank before you get the loan. It all seems confusing for first time buyers but this is a need for them. It’s possible to have the car dealership work this out for you when you’re about to buy it but having the insurance way before that is a huge help, too, says Crazy 88 auto loans experts.

This is sort of a protection against high insurance rates which may be offered by the dealership.  Young people, first-time drivers and high-risk drivers may want to know beforehand how much they’ll be paying for insurance before they get the car.

Again, if you go for a dealership and choose Crazy 88 auto loans, they will be the ones to prep all the papers. You wouldn’t have to stress yourself about these details anymore.

Down Payment

This could be categorized as one of the ‘additional’ requirements but we are including it here as a must. A lot of dealerships out there may offer ‘no down payment’ schemes these days but we suggest that you don’ go for that so that you could lessen the monthly disbursements plus interest rates which you’ll need to pay for in the future.

The down payment usually amounts to 20% of the total cost of the car, at least. If you have saved more than that, go ahead and go over the asking price.

If you are thinking of going straight to a car dealership, you should definitely consider applying for Crazy 88 auto loans. These are so easy to apply for, thanks to their website which has secure fill-out forms which anyone could complete. Check them out now!