You submit your car loan application After shopping around for the car you want to drive next, we’ll find the right car loan lender for you and will submit your vehicle finance application with requirements.
Your finance company approves the vehicle loan Getting approval for a car loan may now even take days as long as you have submitted all your requirements. Some lenders may also provide you with pre-approval so you can shop around for cars with an estimate on how much you can spend.
You or your car loan lender will pay for the vehicle The process of payment may vary. If you are purchasing a car as a private purchase, your vehicle finance company may directly pay the seller or write you a cheque so you can pay it yourself. If you are buying a car from a dealership, the car loan lender may pay them directly.
