If you’re looking to buy a car and you don’t have a Social Security number don’t despair – you can still get financing with an Individual Taxpayer Identification Number (ITIN). An ITIN is a nine-digit identification number that’s issued by the Internal Revenue Service (IRS) to people who are required to have a U.S. taxpayer identification number but who don’t have a Social Security number.
Applying for an ITIN is a fairly simple process. You can do it yourself by completing and mailing in IRS Form W-7 or you can go through an authorized certifying acceptance agent (CAA). You’ll need to provide proof of your identity such as a passport and supporting documentation such as a bank statement or utility bill. Once your application is processed you’ll receive your ITIN in the mail.
Now that you have your ITIN you’re ready to start shopping for a car. The process for financing a car with an ITIN is similar to financing a car with a Social Security number. You’ll need to fill out a loan application and provide proof of income and residency. You may also need to provide a copy of your ITIN.
One thing to keep in mind is that not all dealerships and lenders are familiar with financing a car with an ITIN. So it’s a good idea to do your research in advance and find a dealer or lender that’s familiar with the process.
Once you’ve found a dealer or lender that’s willing to work with you the process of buying a car with an ITIN is fairly straightforward. You’ll need to provide proof of income and residency as well as your ITIN. In some cases you may also need to provide a cosigner. Once your loan is approved you’ll be able to shop for a car and drive it off the lot.
So if you’re looking to buy a car and you don’t have a Social Security number don’t worry – you can still get financing with an ITIN. Just be sure to do your research in advance and find a dealer or lender that’s familiar with the process.
Can you buy a car with an ITIN number?
Answer 1: Yes you can use an ITIN to purchase a vehicle.
How does one apply for an ITIN?
Answer 2: An individual canapply for an ITIN by filing IRS form W-7.
Do I need an ITIN to file my taxes?
Answer 3: No you do not need an ITIN to file your taxes.
What is the purpose of an ITIN?
Answer 4: The purpose of an ITIN is to provide a tax identification number for individuals who are not eligible for a Social Security Number.
How long does it take to get an ITIN?
Answer 5: It can take up to 7 weeks to receive your ITIN.
Can I apply for an ITIN online?
Answer 6: No you cannot apply for an ITIN online.
You must mail your completed IRS form W-7 to the address listed on the form.
Do I need to submit my original documents when I apply for an ITIN?
Answer 7: Yes you must submit your original identification documents such as your passport when you apply for an ITIN.
My passport expires next year.
Can I still use it to apply for an ITIN?
Answer 8: No your passport must be valid when you submit your application for an ITIN.
I don’t have a passport.
Can I use another form of ID to apply for an ITIN?
Answer 9: Yes you can use other forms of ID such as a national ID card or a birth certificate to apply for an ITIN.
Do I need to renew my ITIN?
Answer 10: Yes you need to renew your ITIN every year.
How do I renew my ITIN?
Answer 11: To renew your ITIN you must file IRS form W-7.
I lost my ITIN.
How can I get a new one?
Answer 12: To get a new ITIN you must file IRS form W-7.
Can I get an ITIN for my child?
Answer 13: Yes you can get an ITIN for your child.
How much does it cost to apply for an ITIN?
Answer 14: There is no fee to apply for an ITIN.
Where can I get more information about ITINs?
Answer 15: For more information about ITINs you can visit the IRS website or call the IRS at 1-800-829-1040.