Can a driver's license be used for a loan?
2 Answers
It cannot be used for a loan. Additional information: Relevant reasons: A motor vehicle driver's license is not a valid document permitted by banks. A motor vehicle driver's license only proves that the driver has the qualification to drive and cannot be used for other purposes. A motor vehicle driver's license is a permit for driving vehicles. Related to driver's license: A motor vehicle driver's license, also known as a driving license, is a document applied for by the driver in accordance with relevant laws. As a valid legal proof for driving vehicles, it must be carried when driving a motor vehicle. Driving without a motor vehicle driver's license is not allowed. The use of a motor vehicle driver's license must comply with the specific permitted vehicle types; otherwise, it is considered illegal.
I've heard many people talk about using a driver's license to get a loan, which is actually a common misunderstanding. As a seasoned driver with years of experience, I have personal insights to share. A driver's license is just a small piece of identification to prove you can drive—it can't be directly used as money. Banks or lending institutions look at concrete things like your pay stubs, bank statements, and credit history. At most, a driver's license might serve as a supplementary document to verify your identity during the application process. A couple of years ago, a friend of mine was misled by an ad claiming he could borrow 100,000 yuan with just a driver's license. The application caused him a lot of trouble and ultimately hurt his credit. So don’t act impulsively—always use official channels for loans and provide sufficient income proof. Otherwise, getting scammed is the least of your worries; the real loss is the bigger problems it can cause. Nowadays, some fraud rings specifically target newcomers with these schemes, so make sure your finances are in order before buying a car.
