How Do I Get Approved For An Auto Loan?
Getting approved for an auto loan takes a lot of factors into consideration including your credit history report and your annual/monthly income. While there is not a one-size-fits-all process that will guarantee auto loan approval for everyone, these preparation steps can lower the difficulty level of the approval process.
To get a jump-start on the process, we recommend filling out the dealership’s online financing application before you make the trip to the dealership. When you’re ready to head to the showroom, be sure to bring the following:
- Valid driver’s license
- Proof of income (paycheck stubs and/or bank statements)
- Three to five personal references (name, address, and phone numbers)
- Down payment (if needed)
4) Can I Get Approved For A luxury car Loan After Bankruptcy?
Yes, it is possible to get a luxury car loan approval even after bankruptcy, depending on a few factors:
- Was the bankruptcy a Chapter 7 or Chapter 13 filing?
- Has the bankruptcy been discharged or are you still in bankruptcy?
- How was your credit history before filing for bankruptcy?
- If you do not have a letter from your trustee, you should obtain one.
For a more detailed explanation of how you can get a post-bankruptcy car loan approval, we recommend taking advantage of our financing manager’s auto loan expertise with a quick phone call to (832) 369-8220. There’s no one better equipped to help you find the best ways to get approved, even after bankruptcy.