How long does car loan preapproval from a lender last?

I want to get preapproved for a car loan, but I'm a bit indecisive on which car to buy. How long does an approval last?

Answer
Good for you for planning ahead!
The length of time car loan preapproval lasts varies from lender to lender. In most cases, lenders give you between 30 and 60 days to select a car before you have to through the preapproval or approval process all over again.
So, if you’re an indecisive buyer, you may want to find lenders that give you the most time to select a car. If you purchase a car within the time frame, you won’t see additional hits to your credit score as you would if you had to apply for preapproval again.
During this 30- to 60-day time frame, you may also want to shop for car insurance because you’ll need proof of insurance to drive your car off the lot.
Using the Jerry app, you can compare rates from dozens of insurers to get the best possible rate for your car insurance requirements. The best part? The average Jerry user saves $879 per year.
Eric Schad
Answered on Oct 21, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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