Car Loan Tips - Useful tips for New Employee with New Address

It's already one month and sadly I am still waiting for approval from the bank for my car loan. Well there were two major challenges or should I bluntly say issues with my application.

First, the permanent address that I wrote in my application was my current address. Well, I taught that if I applied for a car loan then my address should be the city where the bank is located but it was a mistake.

TIP#1: Address
- Make sure that you have lived at least 3 years in that address.
- If you just recently transferred to a new address/location (rented), instead of using that address then input your permanent address. It can be the address where you where born and live until you graduated in college.
- This is important because they will visit your address and investigate (CI) or double check.

Secondly, I am still new with the company but already a regular employee and that is clearly still an issue.

TIP#2: Employment record
- The bank requires that you have been working at least 3 years. But since I am still less than a year so they required the details of my previous employment.
- Certificate of Employment (COE) from previous employer is a big help together with the coe of your current company.
- The bank will also investigate the validity of your previous employment so they will require you to submit contacts of individuals whom you know. And so, make sure that those contacts knows you well or at least are close to you wherein they can answer some (personal) questions pertaining to your employment.

And so, I am still crossing my fingers whether my application will be approve. I will know after a week or two. I'll update as soon as I get updates from the bank.

Note: This tips are based on my personal experienced and so, it may or may not be applicable to you or with your bank or in your country.