What do I do after I get approval for a car loan for $20,000?

"I went to my bank and got approved for a car loan up to $20,000.

What's the next step in the loan or car-buying process?"

Answer
“The next step is to go to the dealer and pick out what car you want. You might have to pay a small deposit to hold the car.
Next, the dealer starts the paperwork.
Call your bank to give them the car’s VIN and let them know you’re going to buy the car.
After that, shop around for car insurance, as comprehensive and collision are stipulations of a car loan.
Your bank will call you when the loan is approved and the check is ready. Zip into the bank, collect the check for the amount of the car, and head to the dealer.
Hand them the check, and drive away in your new car.”
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Eric Schad
Answered on Jun 07, 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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