How do I get pre-approved for a car loan?

You can complete a pre-approval application for a car loan online, which involves the same steps and inspections as a car loan application. The lender will verify your credit score by doing a hard credit check, which could affect your credit score slightly. 

It is advisable to obtain pre-approval from all the lenders you wish to approach within two weeks. They would then treat multiple credit checks as only one credit inquiry.

You will typically be required to provide your name, income, and debt information to the lender as well.

Once this process is complete, you will receive the estimated loan terms. Obtaining pre-approval should give you an idea of the value of the car loan you qualify for and what your payments will be.

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