Can you get a car loan without a driver's license?

Why take out a car loan without a driver's license?

As we mentioned above, most people applying for a car loan are experienced drivers. However, in rare cases, citizens may need to purchase a car without the right to drive vehicles. For example:

• when the borrower is purchasing a car as a gift for a loved one;
• when the borrower takes out a car loan for another person due to insufficient salary or a poor credit history of the second person;
• when a person buys a car in advance with the intention of getting a driver's license later, and so on.

Can you apply for a car loan without a driver's license?

Most loan programs do not require a driver's license as a mandatory document. It can serve as additional data to identify the borrower, just like a Taxpayer Identification Number (INN), SNILS, compulsory medical insurance policy, international passport, and so on.

Another question: will the bank approve a loan to a person without the right to drive a vehicle? As practice shows, the final decision of the lender is influenced not by the presence or absence of any single document, but rather by the borrower's reputation and financial standing. Thus, the credit institution pays attention to the client's credit history, income level, debt load, and dependent disabled relatives. All other factors are secondary and practically do not affect the lender's decision.

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How to get a car loan without a driver's license?

Overall, the car loan application procedures with and without a driver's license are identical and consist of the same stages. Therefore, let's discuss what documents may be required when applying through a car dealership or a bank branch, what requirements lenders impose on borrowers, and how the deal is finalized.

Documents required for getting a loan at a car dealership

To apply for a loan through a car dealership, you will need the following documents:

1. Russian passport.
2. A second document of your choice: SNILS, INN, international passport, driver's license, compulsory medical insurance (OMS) policy, or a debit or credit card issued by another bank.

The advantage of this method is the speed of closing the deal. Get the car possible on the day of applying to the dealership. 

Documents required for getting a car loan at a bank

To apply for a loan at a bank branch, you will need the following documents:

1. Russian passport.
2. A second document of your choice: SNILS, INN, international passport, driver's license, compulsory medical insurance (OMS) policy, or a debit or credit card issued by another bank.
3. Income certificate for the last year.
4. Document confirming employment.

Application car loan at a bank branch takes longer and requires more documents. However, Terms terms for such a loan will be more attractive.

Requirements for borrowers

As a rule, credit institutions impose the following requirements on their borrowers:

• hold citizenship of the Russian Federation;
• permanent registration in the region where the bank branch is located;
• age from 21 to 68 years;
• work experience at the current job of at least three months, and total work experience of at least one year;
• having a regular source of income;
• no overdue debt on current loans.

The list of requirements may vary slightly depending on the chosen of the bank. 

Car loan application procedure

Regardless of where the loan is issued, the transaction procedure includes the following stages:

• submitting documents directly to the credit institution;
• signing an agreement with the car dealership;
• making a down payment if necessary;
• signing an agreement with the insurance company;
• signing a loan agreement with the bank.

Where to get a car loan without a driver's license in 2022?

At the end of the article, we have prepared for you 7 banks where you can get a loan for a new car without a driver's license. For convenience, we have presented the information in a table.

Bank name	Lending terms	Borrower requirements	Required documents
T-Bank	from 100 thousand to 3 million RUB; from 1 year to 5 years; from 9.9% per annum	Russian citizenship; age from 18 to 70 years old; registration in Russia	Russian internal passport
Alfa-Bank	from 120 thousand to 20 million RUB; from 1 year to 8 years; from 5.5% per annum	Russian citizenship; age from 21 years; steady income of at least 10 thousand RUB after taxes; work experience at the current job of at least three months	Russian internal passport; a second document of your choice: SNILS, INN, international passport, or driver's license; income certificate for the last three months
Gazprombank	from 300 thousand to 5 million RUB; from 13 to 60 months; from 4.9% per annum	Russian citizenship; permanent registration or place of residence in Russia; age from 20 to 70 years; work experience at the current job of at least three months	Russian internal passport; proof of income
Otkritie	from 300 thousand to 8 million RUB; from 36 to 84 months; from 9.5% per annum	Russian citizenship; having permanent registration within Russia; age from 21 to 70 years; work experience at the current job of at least three months	Russian internal passport; second document of choice: driver's license, international passport, military ID, official ID, SNILS, proof of income
VTB	from 400 thousand to 2 million RUB; from 1 to 7 years; from 2.7% per annum	Russian citizenship; permanent registration in the region where the bank branch is located; age from 21 to 75 years; work experience at the current job of at least three months, and total work experience of at least one year; monthly income of at least 20 thousand RUB for residents of Moscow and Moscow Oblast, and at least 15 thousand RUB for residents of other Russian regions	Russian internal passport; copy of any document of choice: international passport, driver's license, military ID, official ID
Pochta Bank	from 10 thousand to 5 million RUB; from 3 to 7 years; from 5.9% per annum	Russian citizenship; having permanent registration within Russia; age 18 and older; work experience at the current job of at least three months	Russian internal passport; SNILS
Sovcombank	from 100 thousand to 6.9 million RUB; from 12 to 84 months; from 0.01% per annum	Russian citizenship; having permanent registration within Russia; age from 20 to 85 years; employment record at the current job for at least four months	Russian internal passport; military ID or a document confirming deferment from conscription; proof of income; document confirming employment

Let's sum up

Having a driver's license is not a mandatory bank requirement for issuing a car loan. In most credit institutions, this document can serve as additional data for identifying the borrower. Much like SNILS, INN, and so on. Consequently, the lack of a license does not play a significant role when the bank makes its final decision. More important factors are the potential client's credit history and financial standing.