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How to Qualify for a Car Loan in Charlotte

When you’ve found the new vehicle that you want to drive in Gastonia, qualifying for a car loan is usually the next step for those who choose to finance their purchase. But if you’re an inexperienced car-buyer, figuring out how to qualify for a car loan can be a daunting chore. With Rick Hendrick City Chevrolet on your side, there’s no reason to worry, our finance center is here to guide you through each step for how to get a car loan!

What Do I Need to Qualify for a Car Loan?

The big question many Concord car-buyers are apprehensive about is “what do I need to qualify for a car loan?” Thankfully, the steps for how to get a car loan tend to be universal across all lenders. Here are the documents you need to gather:

  • Proof of Income: Lenders want to know that you have the financial means to pay them back if they approve you. They’ll ask you to show proof of income, which can usually be presented in the form of bank statements and/or pay stubs. However, you should also be prepared for a lender to potentially want to contact your employer directly.
  • Proof of Insurance: Liability insurance is legally required of all drivers in Rock Hill, SC, so you must have a plan in place to get approved for a car loan. Often, you can purchase insurance at the dealership at the same time as you get your loan, but you could also purchase it ahead of time to avoid any delays.
  • Proof of Identity: Qualifying for a car loan absolutely requires a photo ID, but you’ll usually need to bring some supporting documents as well to further prove your identity. Usually, your most recent bank statement or a current utility bill will suffice.
  • Proof of Address: If for some reason you weren’t making your payments, lenders need to know where to locate you. If you use a utility bill for your proof of identity, it should also work for your proof of address.
  • Are You Trading in?: If you’ll be trading in your old vehicle, make sure you also have your old car’s title and registration on hand so the dealership is able to take your vehicle that same day.

Qualifying for a Car Loan: Credit Scores

Often, the question of “what do I need to qualify for a car loan?” is accompanied by “do I need a perfect credit score?” There’s no arguing that good credit will raise your chances of getting approved for good loan terms and a low interest rate, but good credit is definitely not a requirement for how to qualify for a car loan. However, some lenders are more open to approving bad credit than others. You might need a cosigner to get approved or be willing to sign off on a higher APR (Annual Percentage Rate). If you go through the finance center at Rick Hendrick City Chevrolet, we can connect you with the best lenders for your credit situation!

How to Get a Car Loan at Rick Hendrick City Chevrolet

The first step for qualifying for a car loan at Rick Hendrick City Chevrolet is to apply for pre-approval! Our online application is 100% secure and quick to fill out. Once we receive your application and review it, a member of our team will reach out to you regarding the next steps. Looking for an opportunity to save on your new ride? Review our current offers and incentives.

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Dealership Disclaimers:
*$699.00 Dealer Administrative Charge is not included in advertised price.
All prices and offers are before state, city and county tax, tag, title and license fees. Out of state buyers are responsible for all state, county, city taxes and fees, as well as title/registration fees in the state that the vehicle will be registered. All prices and offers include all rebates and incentives which the dealer retains unless otherwise specifically provided. Dealer not responsible for errors and omissions; all offers subject to change without notice, please confirm listings with dealer.

**All vehicles may not be physically located at this dealership but may be available for delivery through this location. Transportation charges may apply. Please contact the dealership for more specific information. All vehicles are subject to prior sale.


Current Vehicle Incentive Disclaimers:
0% APR for 72 months available when you finance through GM Financial. No down payment required. $13.89/month for every $1000 financed. For well qualified buyers only. Not all customers will qualify. A+ and A1 credit required. Select in stock inventory only. Bonus Cash varies by model. Cannot be combined with consumer cash or incentives. See Dealer for complete details. Must take delivery by 6/30/21.
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Rick Hendrick City Chevrolet 35.189387, -80.761399.