Car Leasing Doc Checklist - Salaried, Self Employed, Company

What are the KYC Documents Checklist For Car Leasing Application & Approval By The Leasing Companies in India - Salaried, Self Employed, Company?
Did you think that leasing a car is something which is only available for business and corporates? Car Leasing for retail customers is now also available in India. In America and Europe, almost 40% of people get new car on lease.
A car lease is basically calculated on the difference between the initial car price and the residual value of the car after the lease period along with the maintenance, service and insurance cost incurred during that period. At the end of your lease contract you can either give the car back to leasing company and get a brand newcar on lease or buy the used car at depreciated price (residual value)
Car leasing is effectively an all inclusive long term car rental. You pay a fixed monthly fee to use the car for an agreed amount of time and km.
You can budget your monthly vehicle expense to drive a brand new hatchback, sedan, SUV or an electric car every two to five years.
So, What are the important KYC documents that will be needed for car leasing application, verification and approval by the leasing companies in India?
1.Car Leasing Application KYC Document For Salaried Employee
ID Proof:
- PAN Card ( Mandatory )
Address Proof:
- Passport / Election ID / Telephone Bill / Utility Bill / Valid Rental Agreement
- Field investigation will take place for the residential address and the office address as well.
Signature Documents:
- PAN Card / Passport
Income Proof:
- Last 3 months of salary slip ( Mandatory )
- 2 years of Form 16 or Income Tax Returns ( Mandatory )
- Last 6 months of bank account statement in which your salary is credited ( Mandatory )
- You can also provide a bonus or incentive letter if applicable.
2.Car Leasing Application KYC Document For Business Owners / Proprietor And Self Employed (Doctor, CA, Lawyer, Architect)
ID Proof:
- PAN Card ( Mandatory )
- Proprietorship proof certificate which includes a certificate for Shop & Establishment / GST / Service / Municipal Certificate ( Mandatory )
Address Proof:
- Passport / Election ID / Telephone Bill / Utility Bill / Valid Rental Agreement
- Field investigation will take place for the residential address and the office address as well.
Signature Documents:
- PAN Card / Passport
Income Proof:
- Copies of ITR for the last 2 years ( Mandatory )
- Audited bank statements and P&L profit and loss statements for the last 2 years ( Mandatory )
- Last 6 months of primary bank account statements ( Mandatory )
3.Car Leasing Application KYC Document For Partnership / LLP Company
ID Proof:
- PAN Card ( Mandatory )
- Partnership Deed ( Mandatory )
Address Proof:
- Telephone Bill / Utility Bill / Valid Rental Agreement / Shop & Establishment Certificate/ GST / Service / Municipal Certificate
- Field investigation will take place for the office address.
Signature Documents:
- Letter of authority which has to be duly signed by majority partners ( Mandatory )
- PAN Card of Authorised Signatory ( Mandatory )
- Passport of the signatory
Income Proof:
- Copies of ITR for the last 2 years ( Mandatory )
- Audited bank statements and P&L profit and loss statements for the last 2 years ( Mandatory )
- Last 6 months of primary bank account statements( Mandatory )
4.Car Leasing Application KYC Document For Private / Public Limited Company
ID Proof:
- PAN Card ( Mandatory )
- MOA - (Memorandum of Association) and AOA - (Article of Association) ( Mandatory )
Address Proof:
- Telephone Bill / Utility Bill / Valid Rental Agreement / Shop & Establishment Certificate/ GST / Service / Municipal Certificate
- Field investigation will take place for the residential address.
Signature Documents:
- Board Resolution or Power of Attorney ( Mandatory )
- PAN Card of Authorised Signatory ( Mandatory )
- Passport of the signatory
Income Proof:
- Copies of ITR for the last 2 years ( Mandatory )
- Audited bank statements and P&L profit and loss statements for the last 2 years ( Mandatory )
- Last 6 months of primary bank account statements ( Mandatory )
Are you thinking of getting a new car on a lease? Get your free car lease quote today and avail attractive lease deals and offers on new car or schedule a call-back to speak to one
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