That sounds like quite a burden to go to the nearest bank! I don’t blame you for seeking out an alternative. Thankfully, most banks allow you to apply for a car loan
online, making the process easier than ever. Before you apply for any loans, shop around for the best rate possible. Searching online car loan aggregators or local, regional, or national lenders can help you find the best rate possible.
If you’re new to online lending or you’re not familiar with some of the options out there, here are some of the top lenders in the car loan space:
These are just a few of the many options available to you. The more research you put in, the better your odds of finding a fantastic rate.
Once you find a lender with a great rate, you will simply upload the required documents and wait for approval. In general, approval takes about three to five business days.
Furthermore, you should apply for car loans with competitive rates all at the same time. When you apply for a car loan, your credit score will get a hard inquiry. However, credit reporting bureaus will only report one hard inquiry to all of the lenders you apply to within a 14-day period.
While you’re in the application process, remember to search for car insurance. When you finance a car, every lender will want to see proof of insurance, so shopping around is a great proactive approach.
And that’s where Jerry
comes in. Download the Jerry app today to compare quotes from over 50 insurers in just minutes. Jerry will even cancel your old insurance or switch your policy to a new car so you don’t have to!