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Do I need a driving license to be eligible for an auto loan?

I’m about to take my driving test and I’m eager to buy my first car. I already know which make and model I want, but I won’t be able to afford it without help. Do I need a driver’s license to be eligible for an auto loan?

avatar
Sara Brody · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congrats on getting ready to buy your first car! The good news is that you don’t need a driving license to get car financing or buy a car. However, if you can’t provide another valid form of photo identification, the lender may not approve your application because they can’t prove your identity. As you wait for your driver’s license, you might consider getting a state photo ID to have proof of identity in the meantime.
Here are some of the other things you’ll need to secure an auto loan:
  • A
    good credit score
    , ideally ranging from 670 to 739
  • A verifiable source of income
  • Proof of identity and residence
  • A down payment or trade-in car
Once your loan is approved and you’re ready to take the wheel, you’ll want the best
car insurance
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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