Please ensure Javascript is enabled for purposes of website accessibility

Search Inventory

How to Get a Car Loan

Hands Holding Car and Money
 

Initially, the process of qualifying for a car loan in Monroe or Warwick can seem quite daunting. You’ll probably have lots of questions, starting with “What do I need to qualify for a car loan?” Rest assured, qualifying for a car loan is simpler than you might think so long as you have the right documentation. And while you may have heard that you need a perfect credit score to get approved, this certainly isn’t always the case. Learn how to qualify for a car loan with Middletown Honda below, then apply for pre-approval online to get a head start on the next steps. 

What Do I Need to Qualify for a Car Loan?

No matter where you’re looking to get financing from, figuring out how to get a car loan starts with gathering some basic documents that will be used to confirm your identity and provide information on your financial circumstances:

  • Proof of Income: Lenders need to know that you have sufficient income to make your car payments. As such, they’ll ask for proof of income in the form of a bank statement and/or a pay stub. Some lenders might also ask for your employer’s contact information, so they can confirm your employment status and current income. 
  • Proof of Auto Liability Insurance: Liability insurance is required by law for all Goshen drivers. In order to qualify for an auto loan, you will need to show proof of insurance with a current policy. 
  • Proof of Identity: You will need a photo ID to prove your identity, but that’s often not the only identifying document lenders will ask for. Many will also request a copy of a recent utility bill or your last bank statement –– something that confirms the name and address listed on your photo ID. 
  • Proof of Residence: A copy of a recent utility bill can double as proof of residence. Why do lenders require this? In the event that a borrower stops making their payments, lenders need to know they have a way to find them.

Planning to trade in your current vehicle in the process of qualifying for a car loan on a new vehicle? Double-check that you have the title and registration handy, as both are required to prove that you own the vehicle. 

Qualifying for a Car Loan: Do I Need to Have Perfect Credit? 

It’s a common misconception that one of the steps for how to qualify for a car loan is to have a perfect credit score. Good credit will help you qualify for the best interest rates and loan terms available, but it’s certainly not a requirement to get approved. Whether you’re interested in in-house financing at the dealership or you want to work with an outside lender, there are lots of programs designed to help buyers with bad credit. 

Secure Financing at Middletown Honda Today! 

If you’re ready to stop asking how to qualify for a car loan and find a workable solution in Middletown, reach out to the finance center at Middletown Honda to get started! No matter what type of credit you have, we can help you get approved for a vehicle you’ll love. To find out how you can drive home in a new Honda sedan or SUV for less, check out our ongoing new vehicle specials!

More from Middletown Honda

  • 2021 Honda Pilot Features

    The 2021 Honda Pilot midsize family SUV is a stylish alternative to a traditional mini van with an array of comforting features. Here are some of the best features Honda Pilot has to offer: Best 2021 Honda Pilot Features Up to 8 Leather Seats Honda Sensing Suite Heated and Ventilated Front Seats Blind Spot Information…

  • How Much Can a Honda CR-V Tow?

      The 2021 Honda CR-V is a best-selling SUV in the Monroe area, but just how much can a Honda CR-V tow for 2021? The latest model has a towing capacity of 1,500 pounds when properly equipped, along with a payload capacity of 850 pounds. Learn all about the impressive towing features and technologies with…

  • How is the 2021 Honda Civic Fuel Economy?

    If you’re searching for a sedan that’s friendly at the pump as you’re commuting around Monroe and Warwick, you may be asking yourself, “Is the new Honda Civic fuel-efficient? The entry-level Honda Civic-the Civic LX sedan with a CVT-garners an impressive fuel economy of 30 mpg city/38 mpg highway*. You’ll enjoy the fuel-efficiency you need…

Saved Vehicles

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact Us

(855) 473-3053

Call Now

520 Rte 211 E • Middletown, NY 10941

Get Directions

Today's Hours:

Open Today! Sales: 10am-4pm

Service: Closed

Parts: Closed

DI Move Pixel
Middletown Honda 41.461254, -74.374162.