How to Fill Out an Online Car Loan Application

Get Car Financing
Even with poor credit.

January 27, 2012

Filling out an online car loan application is an easy and quick way to receive loan offers and options from many different lenders. Getting a car loan online often expedites the entire car loan process and gives you a large pool of lenders to compare and find the best deal. If you'd like to get car loan approval in as little as a few minutes, you'll need to have the appropriate auto loan documents available and follow this guide to fill out your online car loan application.

Step 1: Find Online Lenders

Using your favorite search engine, find a lender or lenders to submit applications to. If you're in a hurry, you can use the first legitimate lender that pops up, but it's a better idea to check many different lenders so you can compare them and get the best deal and options that are right for you.

Step 2: Check Legitimacy

It's important to ensure that the lender or lenders you've chosen are legitimate before supplying them with any personal information, especially since sensitive information like your social security number will be collected. Online lenders which are simply the website version of well-known and established companies such as Wells Fargo or US Bank may be your best options. Be very careful about giving information to any website which you have not heard of before. You may want to ask the car dealership you're purchasing from for recommendations.

Step 3: Have Necessary Documents Ready

When filling out an online car loan application, you'll need to supply certain information before being approved for a loan. The documents you will need to have ready may vary by lender, but you will need at least your social security number and possibly information about your housing status, job status and the vehicle you wish to purchase as well. You'll be able to figure out specifically what you need for different lenders by visiting the application pages on their websites.

Step 4: Fill Out Applications

Now it's time to fill out the application. Just type in the required information in the appropriate text fields, submit it and wait for a response. Most lenders will get back to you in just a few minutes if you're approved.

Step 5: Compare Offers

If you sent applications to multiple lenders, you can compare the interest rate offers they send you to figure out who's offering you the best deal. If you have time, you can even ask other companies to meet or beat your best offer.

Online car loan applications are smart and convenient because they offer competitive and comparable interest rates, and you can be approved in minutes from the comfort of your home. Using this guide to fill out applications, you can be approved for your new car loan in just a few minutes and find the best rates possible before entering a dealership.

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