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Necessary Documents for Buying and Leasing in Charleston, SC

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Buying or leasing a new-to-you vehicle is an exciting process. When it gets to the nuts and bolts of the transaction, you are going to do the proper documents.


Proof of Insurance

Bringing proof of insurance when you buy or lease a vehicle is essential to the process. The dealership, particularly if they are the lenders, must know that you are fully insured on your new vehicle. You can arrange beforehand to have your insurance policy transferred to the new vehicle.

Trade-In Vehicle Title

If a trade-in is part of the transaction, you will need the title to your trade-in vehicle. If you’ve obtained a loan outside of the dealership, be sure and coordinate with that lender to see what documents you will need.

Driver’s License

The buying or leasing process for a vehicle, like any major financial transaction, is all about trust. Your driver’s license serves as a form of identification but it also assures the dealership that you are legally able to drive.


To ensure that the buying or leasing process goes smoothly, arrange beforehand to have any payment that is required at the time of the purchase, either in the form of a check, wire transfer, or credit card. Check with the dealership ahead of time—many have dollar limits on credit cards that might be less than your down-payment, meaning you might be required to pay with an alternative method.

What Determines Your Credit?
What Determines Your Credit
In order to finance a car, a lender has to determine how much of a risk you are. A high credit score means a lower risk which increases the likelihood you’ll receive a loan with a lower interest rate. In the same way, a lower credit score means you’re a higher risk to lenders which decreases the likelihood of receiving a loan and loans will likely come with a higher interest rate.

Over time, the interest rate can add up to thousands of dollars which makes a higher credit score all the more important. Knowing what factors determine your credit is a good start to getting a high score.

Payment HistoryMaking payments on time will reflect positively on your credit score. As repaying the loan is incredibly important to lenders, this is one of the most important factors in determining your credit score.

Amounts OwedSimply put, how much you currently owe can influence your credit score. Owing large amounts could signify an untrustworthy borrower.

Length of Credit HistoryA longer credit history will increase your credit score provided your credit history isn’t marred by late payments and defaulting on loans.

Credit MixA mixture of credit accounts, like credit cards, store accounts, and loans can reflect positively on your credit score provided you make the payments on time.

New CreditBorrowers who open many credit accounts at once could be preparing to take on a larger amount of debt. Lenders may consider a borrower as a greater risk as a result.

If you have any other questions about credit or what else goes into the process of buying a used car, just contact us or stop in at Mama's Used Cars today!  
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