CAR LOAN APPLICATION FORM
Name: |
______________________________________________________________________________ |
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(First) |
(Middle) |
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(Last) |
Address: |
______________________________________________________________________________ |
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(Street) |
APT # |
(City) |
(State and Zip) |
Phone: |
______________________ |
__________________________ |
_______________________ |
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(Daytime) |
(Evening) |
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(Cellular) |
Date of Birth: |
_ _ / _ _ / _ _ _ _ Social Security #: _ _ _ - _ _ - _ _ _ _ Email: ___________________________ |
Employer: ______________________________ Title: _____________________ Phone: __________________
Length of time at job: _________ Salary: (hourly wage) ________ Monthly Gross Income: _________________
Own or Rent Home: Own ___ Rent ___ Monthly Payment: ________ Total Monthly Expenses: ______________
Loan Type: Used Car ____ New Car _____ Loan Amount: $_______________ Term: 1 / 2 / 3 years
Down payment Amount: $ ____________________. Do you have a co-signer available: Yes_____ No _____
Have you filed Bankruptcy in the past 7 years? Yes ____ No _____ Please explain ________________________
___________________________________________________________________________________________
Status: Single __ Married __ Separated __ Divorced __ Permission for Electronic Fund Transfer: Yes __ No __
Emergency Contact Information
Name: ____________________________ |
Phone #________________________ |
Name: ____________________________ |
Phone #________________________ |
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Financial References |
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Bank/Institution |
Account Number |
Checking Account |
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Savings Account |
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Permission to Obtain Consumer Credit Report
By signing this application form, I hereby give the ECDC Enterprise Development Group (EDG) the right to obtain a consumer credit report regarding me for this application and the life loan should my application be approved. I also release from all liability all persons, companies, and corporations supplying such information. I indemnify the EDG against any liability that might result from making such an investigation.
I certify that the information above is correct to the best of my knowledge. I authorize EDG to make inquiries as necessary to verify the accuracy of the statements made by me and to determine my creditworthiness. I have read and understand the fees outlines above. I agree to indemnify and hold harmless EDG, its officers, directors, employees, agents and volunteers from any and all claims, loss or other liability arising from or related to the services that EDG provides before, during, and after the loan review process. I agree to pay the required sums and I agree to be bound by the loan agreement, if my application is accepted.
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Loan Application Fee = $50 |
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Loan Amount Approved |
Closing Cost (Processing Fee) |
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$1,000 - $5,000 |
$ 100 |
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$5,001 - $8,000 |
$ 150 |
________________________________ |
___________________ |
Applicant Signature |
Date |
FOR EDG INTERNAL USE ONLY
Date Application Received: _________________ Received by: ___________________________________
FOR EDG INTERNAL USE ONLY
Approval Documentation
Checklist of Documents Submitted with Application
1.Car Loan Application _____
2.Car Loan Application Fee (payment receipt) _____
3.*Applicant’s (2) Forms of I.D. One of them must show status _____
4.Applicant’s (2) Pay Stubs _____
5.Co-Signer Documents (for applicants requesting more than $8,000, with less than 20% down payment) _____
More Forms Collected Internally for Loan Decision
6.Applicant’s Credit Report _____
7.Credit Evaluation Form _____
8.Interest Matrix Form _____
9.Debt Ratio Form (less than 50%) _____
Loan Amount Approved: $_________________ Term: ______ Interest: ______%
Loan Officer Approval: __________________________ Date: ______________
*Example: I-94, Green Card, Birth Certificate or US Pass Port
*****************************************************************************
FOR EDG INTERNAL USE ONLY
Approval Documentation
Checklist of Documents Collected for Disbursement 10.Review Documents Collected for Approval (#1-9) _____
11.Purchase Order Showing Required Down Payment Amount (From Dealer) _____
12.Vehicle Appraisal Value (KBB, From Dealer) _____
13.Vehicle Mechanical Check (Form Available) _____
14.Vehicle CarFax Report (From Dealer) _____
15.Full-coverage Insurance Documentation (EDG Must be Listed as Loss Payee or Lien Holder) _____
16.Closing Cost (Payment Receipt) _____
17.Guarantee of Lien Perfection Form (Form Available) _____
18.Car Key ____
19.Electronic Funds Transfer Form With Void Check (Form Available) _____
20.Signed & Notarized Loan Agreement (Provided by Loan Officer) _____
21.Amortization Payment Schedule (Loan Officer Submits This) _____
Portfolio Manager’s Initials: ______ Date: ________________
