Leasing a car can be a great option for drivers who want to get behind the wheel of a new vehicle without committing to ownership. However, before you can sign on the dotted line, you’ll need to provide the dealership with certain documentation.

Required Documents

To lease a car, you’ll typically need to provide the following documents:

Proof of Identity

• Valid driver’s license: This will prove your identity and verify that you are legally able to drive.
• Proof of residency: This can be a utility bill, bank statement, or lease agreement that shows your current address.

Financial Documents

• Proof of income: This can include pay stubs, tax returns, or other documents that show your income.
• Bank statements: These will show the dealership that you have sufficient funds available for a down payment and monthly payments.
• Credit report: A credit report is not always required, but it can help you secure a lower interest rate on your lease.

Vehicle Information

• Trade-in car (if applicable): If you are trading in a vehicle, you will need to provide the dealership with the title and registration for the vehicle.

Other Documents

• Insurance card: You will need to provide proof of insurance before you can lease a car.
• Proof of delivery (if applicable): If the vehicle is being delivered to you, you will need to provide a signed proof of delivery.
• Dealer agreement: This is the contract between you and the dealership that outlines the terms of your lease.

Additional Considerations

• The required documents may vary slightly depending on the dealership and financing options you choose.
• It is always a good idea to bring all relevant documents to the dealership with you to expedite the leasing process.
• Keep copies of all submitted documents for your records.
• Review the dealer agreement carefully before signing to ensure you understand all of the terms and conditions.

What documents do I need to provide when leasing a car?

Proof of Identity:

• Valid driver’s license

Creditworthiness:

• Credit score (ideally above 700 is preferred)

Financial Stability:

• Income statements (tax returns, pay stubs)
• Income requirement: 3 times the monthly lease payment

Character Reference:

• References (e.g., previous landlord, employer)

Down Payment:

• Equivalent to one or two monthly payments

Vehicle Information:

• Trade-in car (if applicable)

Residency:

• Recent utility bill (e.g., water, electricity, gas)

Insurance:

• Proof of insurance

Other Considerations:

• Credit score impacts interest rates and down payment requirements.
• Bank statement may be requested in some cases.
• Self-employed individuals may need additional income verification.
• Insurance requirements for leasing are similar to those for buying.

Document Category Required Documents Additional Information Identification Driver’s license or state-issued ID with current address Must be valid and not expired Proof of residency (e.g., utility bill, lease agreement) Must show current address and be within a certain period (e.g., 30 days) Financial Proof of income (e.g., pay stubs, tax returns) May include W-2s, 1099s, or bank statements Bank statements showing sufficient funds for down payment and monthly payments May be required to verify available funds Credit report (optional, may improve financing options) Can impact loan approval and interest rates Vehicle Information Vehicle title (if purchasing a used vehicle) Must be signed over to the new owner Vehicle registration (if purchasing a used vehicle) Must be up-to-date and in the seller’s name Other Documents Insurance card (proof of coverage) Required for driving the vehicle off the lot Proof of delivery (if vehicle is being delivered) May be a signed delivery receipt or bill of lading Dealer agreement (agreement between buyer and seller outlining purchase details) Should be carefully reviewed before signing Sales tax exemption certificate (if applicable) If you qualify for a sales tax exemption, you may need to provide proof Power of attorney (if someone else is signing on behalf of the buyer) Must be signed and notarized