Documents needed when buying brand new car from a dealership
When buying a brand new car from a dealership, you'll typically need to provide certain documents to complete the purchase. Here's a list of the most common documents you'll need:
- Valid Government-Issued ID: A driver's license, state ID, or passport is required to prove your identity.
- Proof of Insurance: You'll need to show proof of insurance for the new vehicle. You can purchase insurance at the dealership or have your existing policy updated to cover the new vehicle.
- Proof of Income: You may need to provide proof of income, such as:
- Pay stubs
- W-2 forms
- Tax returns
- Bank statements
- Proof of Residence: You'll need to provide proof of residence, such as:
- Utility bills (electricity, water, gas, etc.)
- Lease agreement
- Mortgage statement
- Property deed
- Trade-in Documents (if applicable): If you're trading in your old vehicle, you'll need to provide the following documents:
- Title or pink slip
- Registration
- Any outstanding loan or lease documents
- Financing Documents (if applicable): If you're financing your new vehicle, you'll need to provide:
- Proof of income and employment
- Credit reports (if requested by the lender)
- Other financial documents (if requested by the lender)
- Down Payment: You'll need to provide a down payment, which can be in the form of cash, check, or credit card.
- Vehicle Registration: You'll need to register your new vehicle with your state's Department of Motor Vehicles (DMV) within a certain timeframe (usually 30 days).
- Title: The dealership will provide you with a new title for your vehicle, which will be registered in your name.
- Warranty Information: The dealership will provide you with information about the vehicle's warranty, including the duration and coverage.
Additional documents that may be required:
- Proof of Social Security Number: If you're financing your vehicle, you may need to provide proof of your Social Security number.
- Proof of Military Service (if applicable): If you're a military veteran or active-duty personnel, you may be eligible for special financing or incentives.
- Proof of Student Status (if applicable): If you're a student, you may need to provide proof of enrollment or a student ID.
Remember to check with your dealership for specific requirements, as they may vary depending on your location, financing options, and other factors.