What's required for a Car Loan in Canada?

Need a used car loan in Edmonton? Here are a few basics you will need to buy a car, make sure you have all of the following before applying for a car loan.

  1. Must be employed, most lenders require you must have employment for at least 3 months prior to applying.
  2. You must have a valid drivers licence.
  3. Proof of income: with pay stubs, bank statements, job letter to show the lender you have the ability to repay the loan.
  4. Proof of Residence: Your address needs to be verified by the loan company in most instances the address on your drivers licence along with a utility bill or phone bill is enough proof.

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