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How long do car loan approvals take?

How long will I have to wait for my car loan approval? I’m worried that I might not get approved because I’ve been waiting for a while now.

avatar
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Different lenders will take different amounts of time to approve a
car loan
, but it will usually take about a week from application to get approved. 
Here’s what to expect from different types of lenders:
  • Online lenders: will usually take one business day to one week to approve a loan.
  • Dealerships: will generally approve loans the same day, although it could take a few business days.
  • Banks and credit unions: can take anywhere from one business day to a few weeks to approve a loan depending on whether you’re a new customer and their loan backlogs.
For a more exact estimate on approval time, talk to your lender of choice to learn more about how long you can expect to wait.
While you’re waiting for a car loan approval, why not take a minute to learn more about your
car insurance
options for your new car? The
Jerry
app can help you find the best rates on the coverage you need.
View full answer 
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