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?"
“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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