One of the most common questions we hear at our dealership is a simple one: do I need proof of income to lease a car? The short answer is yes, and along with income verification, there are a handful of other documents you'll want to have ready before you sit down at the finance desk. Here's what to bring when you lease a car at Honda Van Nuys.
A Valid Driver's License
This one is straightforward. You'll need a current, government-issued driver's license for identity verification. It also confirms you're legally authorized to drive the vehicle you're leasing.
Proof of Income
Yes, proof of income is required in most cases. Lenders want to confirm you can consistently cover the monthly payments throughout the lease term. You’ll often get a request for your two most recent paystubs. Bank statements or tax returns work too, especially for self-employed applicants or those with non-traditional income sources. As a general rule, most lenders look for gross monthly income of at least three times the monthly lease payment.
Proof of Residence
A recent utility bill, bank statement, or lease agreement showing your current address is standard. The document should be dated within the last 60 to 90 days and match the address on your license.
Proof of Insurance
Leasing requires full coverage insurance including liability, collision, and comprehensive. Minimum state coverage alone won't qualify. If you don't already have a policy in place, you'll need to arrange coverage before you drive home.
Explore Honda Lease Deals near Los Angeles, CA
A little preparation goes a long way toward a smooth and stress-free leasing experience. The finance team at Honda Van Nuys is here to walk you through every step and answer any questions along the way. Stop in or reach out online to get started.
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