How Long Does It Take To Get A Car Loan Approved?

How Long Does It Take To Get A Car Loan Approved?

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24-hour fast car loans are possible. Here's how:

Getting a car loan pre-approval can be super-quick when you choose a bank or car loan broker with online application systems.

Why get a car loan pre-approval?

It's a good idea to have a car loan pre-approval before shopping for a car for two main reasons.

  • It stops you going above your budget
  • Simpler negotiating process

You're probably in a hurry to find your new car, so you don't want to waste time on paperwork and sorting out your finance.

How long will my car loan approval take?

To help you get shopping for your car sooner, we've designed a 10-minute mobile pre-approval process. This means you can take advantage of a great deal on car finance without needing to spend time researching bank websites and scanning documents.

You can benefit from a fuss-free pre-approved bank car loan, and you can focus on negotiating the best price on your new car.

You'll usually have a car loan approval answer within 24 hours on a complete application. If there's any further information that the lender needs, your lending manager will contact you straight away. When there's a delay in getting your information, or there's public holidays, a pre-approval can take up to 5 business days at the outside, but most are approved within one or two days.

Get a 3-minute quick quote for your car loan now.

How can I get my car loan approval faster?

When you get a quick quote, if you like the figure you can proceed to start an application for a fast car loan pre-approval right away.

You'll need your smartphone and the following documents:

  • Driver's licence or other ID
  • Residential info
  • Three payslips
  • Evidence of any assets and liabilities
  • Online banking info
  • Two personal references

If you've got these handy, the online car loan application takes just ten minutes.

Don't worry if you start your application and get interrupted - when you log back in you will be taken to exactly where you left off.

What do Positive do to get my car loan approved faster?

It's easy to complete your whole car loan application right from your mobile, wherever you are - on the bus, taking a lunch break, in the city or a rural area.

You can complete the application form online, or chat with your personal lending manager via email, SMS or phone.

Once you've submitted your information, your lending manager will contact you with your car loan options. We'll do a 'soft' credit check, and then match you to the most suitable car loan product from an extensive range of bank and non-bank car loan options.

If you're happy with the match, your car loan application will be prepared and submitted through unique technology that puts your application in front of your selected lender immediately.

You should have an update on your fast car loan application within one business day, and your lending manager is always available to clear up any questions you have.

I've found my car, how do I use my pre-approved car loan?

When you find the car, get in touch with us straight away, and your car loan contract will be emailed to you immediately.

Your car loan contract will be marked with the exact places you need to sign, so you won't miss a page by mistake.

Once you complete and return the car loan contract, we'll also need:

  • Evidence of comprehensive car insurance
  • Tax invoice for the car

As soon as these documents are returned, our settlements team will double-check and finalise your car loan for settlement with the lender. Once submitted to the lender, you could get a same day car loan approval (if it's submitted before lunch) or next day approval in most cases.

For a complete overview of the car finance process, our Positive Process takes you through each step.

Why choose Positive for a fast car loan?

When you apply for a fast car loan, you'll speak to one person who will help you through your application from beginning to end. You can always expect prompt, friendly customer service, and if we don't have answers to your question on the spot, we will find out the answer quickly.

You will also benefit from behind-the-scenes technology that is an industry first. Positive Lending Solutions is committed to staying ahead of the game, pioneering new technological services that streamline our internal processes, freeing up our staff to help you to get answers faster, and give you an easy, fast car loan experience.

Looking for a fast car loan quote?

Buy your car sooner when you arrange a car loan pre-approval first, and you'll also save heaps of money and stress through the process.

With a fast car loan, you'll spend less time sorting out your finance and more time focusing on your new car.

Apply for a fast car loan now so you can start looking for your car.

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