Automobile

4 ways to speed up the car finance process

The car finance process can be a long and drawn out one. An easy way to speed up the process is by having a checklist that you use each time going through the application process. By making your own personal ‘car finance’ checklist, you can ensure that nothing falls through the cracks and so get on with enjoying your new car more quickly.

Make a complete checklist

Make a complete list of everything that is required to get the car finance approved and have it ready for you to sign. Include things like proof of income, settlement statements, employment records, driver’s license numbers, etc. Ensure that each requirement is in date order so that when you are asked for certain information, you have the right documents readily available.

Get a loc doc car loan

Getting a low doc car loan is a great way to speed up the car finance process. It’s a convenient finance product that’s available for commercial loans. It works in the same way as a regular loan, except you need far less documentation to get on the road. You’ll still be able to access similar rates and loan types, but can spend more time focussing on your business and less time running around finding a million different documents.

Assess your options online

As soon as you’ve decided on the car finance option that’s right for you, assess your options online. It’ll take just a couple of minutes to complete and will save you hours trying to work it all out in store. An accredited loan specialist can do this for you free of charge so there really is no excuse! You’ll be able to see all of your loan options in one place and easily compare interest rates so you can be confident that you’re getting the best loan out there.

Check your credit score

Before applying for loans, it’s a good idea to check your credit score. Not only will this give you an indication of what kind of interest rates you can expect to pay and how likely you’ll be approved, but also it gives you the opportunity to check that there are no mistakes on your credit file. If there are any errors, you’ll want to make sure you have time to correct these before submitting any applications.

So there you have it, 4 easy and super effective ways to speed up the car finance process. It’ll save you a lot of time and money, so they’re definitely worth making part of your regular car loan application routine!

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