To apply for a car loan online, simply fill out the application form on our website with your personal and financial information, along with details about any vehicle you wish to settle or trade in. Once submitted, our team will review your application and determine if you qualify for financing. Our customer update page will guide you along the process and provide requests for any information we need.

Several factors influence the interest rate on your car loan, including your credit score, loan term, loan amount and whether the loan is secured or unsecured. A higher credit score usually qualifies you for lower interest rates since it indicates to lenders that you're a lower-risk borrower. Longer loan terms can lower monthly payments but may result in higher interest total repayable over the life of the loan. Newer vehicles often have lower interest rates compared to used cars due to subsided manufacturer finance deals and incentives.

Many lenders allow borrowers to prepay their car loan. However, some may charge prepayment penalties for paying off your loan early. These penalties are either a fixed amount or a percentage of the remaining loan balance. It's important to review your loan agreement carefully to understand any prepayment terms or penalties involved. Prepaying your loan can save you money on interest but ensure that it financially makes sense after considering any penalties.

The specific documents required can vary by lender, but generally, you'll need to provide proof of identity (such as a driver's license or passport), proof of income (checked automatically with our bank statement retrieval service) and information about the vehicle you intend to purchase if available. Additionally, lenders may require details about your employment and a list of personal references.

Under 21? Expect it to be hard going as many finance companies will often only consider approval if you are over this age. Don’t be disappointed if you are asked for a co borrower or guarantor as you have little or no history and as much as we would love to change this
we have to stick to the rules.

Surprisingly this isn’t just used to find out where to send letters too and is also important to assess what is called your stability. Been at your home address for 10 years? This means a lender will have an idea where you will be next year. Had to move every 6 months? Expect
alarm bells to start ringing due to your transient pattern of behavior.

Working or on the benefit? You might be surprised to hear there are positives to both types of income but mostly a full time employment will give you the greatest chance of success for a car loan. How long you have worked at your current employer is also like your address history – the longer the better. Post COVID its no surprise that essential type work is now considered super safe and looks great when reviewing your application. Higher level professional positions carry an higher salary but that can also mean nothing if we move onto the next factor – affordability.