How to apply for a loan?
To apply for a car loan, you need to follow a few simple steps:
- Click on the "Get Approved" button;
- Fill in your name, phone number, and ZIP code and click on the "One More Step" button;
- Enter your home address, email address, the amount of your annual income, date of birth, and Social Security Number;
- Click on the "See Approval" button;
- Collect the documents from the list that is given to you on the website;
- Come to your chosen dealership and provide the documents.
After applying, you can see which cars are available in the local dealership and reserve them using the Vehicle Reservation Program.
Requirements
To receive funding from DriveTime, the borrower must meet these criteria:
- Have a FICO credit score of at least 600;
- Have U.S. citizenship or be a U.S. Permanent Resident;
- Be at least 18 years old;
- Have income received with direct deposit, cash, payroll checks, 1099, or tax returns.
Application details
To complete the application for car financing, you need to submit the following documents to the Sales Advisor in the dealership:
- Valid driver's license. When granting a driver's license, you have the opportunity to test the car in a test drive.
- Proof of income in the form of W-2, 1099, or paystubs.
- Documents confirming your place of residence. You can provide a utility bill or a mortgage statement.
- Social Security Number.
- Bank statement or additional utility bill.
The application is submitted in 2 minutes, and you get an answer instantly. The chance of rejection is relatively small since the company has 99% approval odds.
