How to Get a Car Loan Quote
Review your credit history., Address any discrepancies that you find on your credit report, but wait to apply for your car loan until after all disputes have been resolved., Look up contact information for the bank that you typically do business at...
Step-by-Step Guide
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Step 1: Review your credit history.
Start with TransUnion and Equifax.
Those companies allow you to obtain your free annual credit report.
Consider upgrading your credit reporting service to one that offers analysis of your credit rating.
This will give you greater insight as to how loan officers will look at your scores and credit history. -
Step 2: Address any discrepancies that you find on your credit report
If there are no disputes, and you are satisfied with your report, proceed to researching potential banks or other lending institutions. ,, Allow yourself enough time between appointments, generally a few hours, to ensure that you give yourself ample time to fill out paperwork and talk to the bank representative. ,, Take your time, and thoroughly fill out each line and section. , The time it takes for a lending institution to let you know an answer will depend on the establishment. ,, Financing is always available through the dealerships themselves, so you can go through the pre-approval process at as many car lots as you would like.
You will get an idea as to how competitive each can be against the other and versus the banks and other lending institutions. -
Step 3: but wait to apply for your car loan until after all disputes have been resolved.
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Step 4: Look up contact information for the bank that you typically do business at
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Step 5: but also consider finding out contact information for other local banks and credit unions to compare.
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Step 6: Schedule an appointment with the potential lending institution or institutions.
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Step 7: Bring along support documentation including pay stubs or the previous year's W-2.
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Step 8: Fill out all loan application paperwork required.
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Step 9: Wait for an answer on the loan.
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Step 10: Look to the web if you aren't particular about your loan being local and you are looking for an alternate means of finding a car loan.
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Step 11: Go to the car lots.
Detailed Guide
Start with TransUnion and Equifax.
Those companies allow you to obtain your free annual credit report.
Consider upgrading your credit reporting service to one that offers analysis of your credit rating.
This will give you greater insight as to how loan officers will look at your scores and credit history.
If there are no disputes, and you are satisfied with your report, proceed to researching potential banks or other lending institutions. ,, Allow yourself enough time between appointments, generally a few hours, to ensure that you give yourself ample time to fill out paperwork and talk to the bank representative. ,, Take your time, and thoroughly fill out each line and section. , The time it takes for a lending institution to let you know an answer will depend on the establishment. ,, Financing is always available through the dealerships themselves, so you can go through the pre-approval process at as many car lots as you would like.
You will get an idea as to how competitive each can be against the other and versus the banks and other lending institutions.
About the Author
Kayla Barnes
Professional writer focused on creating easy-to-follow pet care tutorials.
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