How to Get a Car Loan

September 30th, 2021 by
Car Loan

Are you getting ready to upgrade your vehicle for the Toledo roads ahead? Then it’s a good time to brush up on how to get a car loan. Securing a car loan is simple, but doing a little extra research can pay off in a big way when it comes to signing the paperwork. Get tips and tricks from the Victory Honda of Sandusky finance center below, and stop by Sandusky to explore your options with us.

Check Your Credit Score

Your credit score plays a huge role in your financing decisions, so we recommend running a credit check at the very start of the car shopping process. Not only will you have a better idea of what your rates will be, but you can also make sure that there are no errors or unexpected activity in your report. If you notice anything out of the ordinary, you’ll still have time to sort everything out.

Apply for Loans

You have a lot of flexibility when it comes to securing your car loan. You can apply to just one place or multiple places: banks, community credit unions, online lenders, and dealerships. We do advise Elyria customers to send in their applications within a short time window, two weeks at the most. This helps to avoid any marks on your credit score.

Find Your Car

Once you have your credit score in mind and you’ve secured your loan, it’s time to use that information to get a great deal in Lorain. Here are some extra things to keep in mind as you get started:

  • Pre-Approval: Getting pre-approved at a dealership can save you some time on paperwork, and you can also use this information to help you budget.
  • Budgeting: Your loan will give you a maximum amount that you can spend, but don’t spend all of it. You’ll want to save 10% for fees and taxes, and an auto loan calculator will help you stay on budget.
  • Delays; What if you run into delays during your shopping journey? Many lenders give you around 30 days to find your car, but you can easily just call them to get that offer extended.

Explore Your Options with Victory Honda of Sandusky

Now that you know how to get a car loan, Victory Honda of Sandusky is here to help you find that perfect car. Our team would be happy to help you through the process, so contact us with your questions.

 

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