Where can I get a loan for my car?

I found a new car at my friend’s dealership, and he agreed to hold onto it for me, but I need to take out a car loan to afford it. Where can I get a loan for my car?

Answer
That’s great your friend agreed to hold onto it, and you must be relieved to know it won’t be sold before you get your loan approved!
Many dealerships have financing options available in-house, but you can also apply for a car loan through any of the following:
  • Large national banks
  • Local banks
  • Local credit unions
  • Online lenders
To find the best loan agreement, you should apply through multiple lenders and compare their offers. To apply, you will likely need the following with you:
  • Your driver’s license
  • Proof of residence
  • Proof of employment and income
  • The new vehicle’s information
  • Your current vehicle’s registration and information (if trading in)
  • Proof of insurance
Keep in mind that lenders will require your financed vehicle to have full coverage car insurance. Full coverage can cost a lot, but it doesn’t have to break the bank.
Try using the number-one-rated car insurance app, Jerry, to help you find cheaper rates. After providing you with a comprehensive cross-analysis of the best policies from more than 50 top insurance companies, including Nationwide, Allstate, and Travelers, Jerry will handle the phone calls, paperwork, and renewals for your top pick so that you don’t have to. They even help cancel your old policy!
Jack Walsh
Answered on Nov 18, 2021
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