The 5 Things You Need to Do to Get a Car Loan Fast
by: JasonLancaster |
Total views: 2 |
Word Count: 433 |
View PDF | Print View
Share This Article
No one likes to waste time, especially not when you're trying to get a new car loan. Luckily, there are a number of ways you can speed up the process of getting a loan for your new car.
Regardless of your credit score or credit history, here are some tips you can use to save time:
1) Make sure you've got all your paperwork together. You'll need a recent paystub to prove your income, and a recent bill from your phone, electric or cable service to prove your residence. If there are any problems with your credit, such as collections or bankruptcies, get the paperwork for that too. Bring everything with you in an envelope when you go to see your lender. That way, you'll only have to make the trip once.
2) Get your list of personal references together. When you apply for an auto loan, you're usually required to give the name, address, and phone number of three or more friends or relatives that don't live with you. If you get this information together ahead of time, you won't have to scramble to figure it out while you're completing your application.
3) Talk to your boss, office manager, or human resources department. When you apply for an auto loan, most lenders will call and verify your employment. Let the person in charge of employment verification know that you're expecting an auto lender to call about you - that way they'll be ready to provide what the bank needs quickly and accurately.
4) Find out exactly what your payoff is if you have a trade-in. Don't make the common mistake of estimating what your trade-off will be - the bank might take that figure as the exact value. If your payoff ends up being higher from what you estimated, you'll lose time as your loan may need to be reapproved for a higher amount. If it's lower, your interest rate might be higher than what you actually merit. Find out the exact payoff for your trade-in before you go to complete your application, and save yourself some time and money in the process.
5) Make sure you're as truthful and accurate as possible. When you complete your credit application, you may need to list former residences, former employers, etc. If you list all this information accurately, your application will be processed quickly. Also, if you lie about some aspect of your credit, there's a good chance the auto lender will find out. At best, this will slow down your application considerably as the lender checks every aspect of your credit. At worst, your application will be turned down.
Share This Article
Rating: Not yet rated Next Article - Meet Ironman Ivan Stewart and Previous Article - Are Chrome Fuel Filler Doors Right For You?
About the Author
Author Jason Lancaster, an auto business veteran, created AccurateAutoAdvice.com. You'll find accurate car buying tips and car advice.
Comments
No comments posted.Add Comment
Popular Articles about: Cars
1: HHO Generator Plans - Water For Gas Kits2: New Cars: When Is The Best Time To Buy Or Lease?
3: Buy Here Pay Here Used Car Lots - Useful for Subprime Credit Customers
4: How To Buy Impounded Cars - All The Facts You Need To Know
5: Completing One's Dodge Charger with the Right Accessory
6: The Acura RDX: Setting New Standards for Crossovers
7: Your car insurance
8: Hyundai: Continuously Improving Quality
9: What Makes Biodiesel Better Than Gasoline?
10: Alternative Fuel : Biodiesel
11: Running Cars On Water
12: Buying a used van
13: Increase Gas Mileage Up To 40% and HHO Gas
14: Sunny California Coast Car Rental Services
15: Discount Tires: Are Getting Them A Good Idea?
16: Cheap Car Insurance Quotes Free Related Fact
17: The New 2008 Hybrid Cars
18: The way to decide on a car loan
19: Monaco Grand Prix Glitz Draws Rising Stars
20: Benefits and drawbacks of purchasing used cars
21: Tips on Buying a Used Car in the UK
22: Hiring limo for special ceremonies:
23: Tips On Shopping For Wheels And Tires
24: Government Repossessed Car Auctions - How To Hunt Them Down
25: Factors That Affect Auto Insurance Quotes
26: Owning a Water Powered Car Has many advantages-Here is a list
27: To buy or to lease?
28: How to Transport Your Classic Car
29: Tips On Fixing Your Mercruiser
30: Buy Seized Auto and Get Bigger Savings