Where can I apply for a car loan online?

I live in a rural area and the closest bank is about 45 minutes away. I want to get a car loan, but I don’t want to go through the hassle of going to the bank several times. Where can I apply for a car loan online?

Answer
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:
  • Bank of America
  • Capital One
  • LightStream
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!
Eric Schad
Answered on Nov 09, 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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