How to Obtain a Car Loan from Our Finance Partner: A Step-by-Step Guide
How to Obtain a Car Loan – It is a big investment to buy a car, but it doesn’t have to be scary. With friendly financing you can get away with the car you want while not paying a fortunes. It’s for this reason that Coastal Auto Advisory teamed up with a finance broker that it knows can make you car finance easy, fast and frictionless. Whether you are a working entrepreneur looking for fleet expanding or an entrepreneur in search for their next personal car, our financial partner is willing to fund your Next Car purchase.
In this blog post we’ll disassemble the process of getting a car loan through our finance partner so that you can be driving in no time.
Understand Your Needs and Clinton to Your Cost
If you are considering getting a car loan, you should know how you stand financially. Consider factors such as:
- How much should you borrow?
- How wide expenses have risen.
- When do you have to pay back your loan?
- Do you need insurance or accessories financing too?
- The second step will be to identify these factors beforehand so that you can choose the car loan that will enable you meet your particular financial need.
Contact Coastal Auto Advisory
Now, you have your budget in place, now you just need to contact our team at Coastal Auto Advisory. We will talk to our team about what type of car you would like to purchase, your budget and how you would like to purchase the car. If, however, you are considering purchasing a new or secondhand car, you are at the right place because we shall help you with best loan to take.
Therefore, we collaborate with a finance partner who offers timely and conducive interest rates, favourable repayment options and quick approval time for you to access cash that you will use to buy your vehicle.
Review Your Loan Options
After you have told us what specifically are your financial needs and whether you prefer a low cost, entry level car or one with an expensive return rate, our finance partner then returns to you with several loan plans. These options may include:
- Secured Car Loans: These are loans in which the car you’re buying is collateral, and sometimes that means you’ll receive lower interest rates and better loan terms.
- Unsecured Car Loans: If you don’t want to use your car as collateral when getting an unsecured car loan, you don’t have to. In the fixed rate investment, interest rates will be higher, but the investor has some options, which is why this is the case.
- Business Car Loans: Business fleet loans give business people the opportunity to purchase a vehicle to add to their fleet.
- After you’re done choosing the best lender, our finance partner shall verify the total loan details with you from the rate of interest to the payback period and even the fees that shall accrue to you so that you can make the best decision.
Apply for the Loan
Once you choose the loan you need then your next step is to apply. This is very easy to apply and you only need very few documents.
Here’s what you’ll generally need to provide:
- Proof of Income: When you apply for a loan, you will have to bring pay slips, tax returns or business financial statements of recent date to prove that you can also repay them.
- Identification: As an identification number, it could just be a passport or a driver’s license.
- Car Details: The make, model, and cost of the car you are to purchase.
- Credit History: Your credit report is part of the approval process.
- Following this, we send your application to our finance partner who will consider, and approve, your application – with a decision in 24 – 48 hours.
Approval and Loan Agreement
The moment you apply for a loan, the lender looks into it and once it is approved you will be immediately issued with a loan agreement that will show you what your loan entails and the obligations you need to adhere to. It’s important to review the agreement carefully, paying attention to key details such as:
- Interest Rate: Determine what rate and whether it’s fixed or variable.
- Repayment Schedule: They will let you know how frequently the payments should be remitted to them bi – weekly, weekly or monthly, and for how long.
- Fees and Charges: You must ensure that you find out there whether are there any other charges to be imposed like the establishment fees, early settlement payment charges and late charges.
Once the agreement is reviewed, you just sign and send it back and you get the loan.
Purchase Your Car
Once your car loan has been granted, you can obtain a car and you sign the contract papers. If it is a car or deal loan, the amount of loan will either be credited to the dealership or seller’s account or you will get paid in your account. Once you pay for that car it is yours.
Repay the Loan
Repaying a car loan is easy. The reason why is because thanks to our finance partner you are able to repay exactly how you are able to afford. Plus, when you link your bank account for automatic payments, you don’t have to worry about being late for a payment. That’s good news to hear, because many of the loans we have today will let you make extra payments, and in some cases even pay the loan off early, no penalty for early payoff there, and that should save you on interest costs going forward.
Our Finance Partner has something good for you: How to Obtain a Car Loan
Choosing to finance your vehicle through our finance partner comes with several advantages:
- Fast Approval: But once approved any loan will be a fast track and be approved in 48 hours through our finance partner.
- Flexible Terms: The time you choose for paying off your loan will never matter; you can take be it 1 years, 3 years or 5 years and choose the payment plan that suits your salary and financial position.
- Competitive Rates: You’re able to get a competitive interest rate on your loan, so you pay less.
- Business Loans: Business funding solutions for self employed business people looking to fund a fleet.
Conclusion: Drive Away with Ease
Our goal at Coastal Auto Advisory is to help you with obtaining either the right car or the right financing for the car. They are also our finance partner who offer quick and easy car loans to help you buy your first personal car or help you grow your business fleet. It’s easy and cheap with competitive rates and terms and soon you’ll be driving away in your new car.
If you already know that you’d like to explore your car loan options, we’d love to hear from you, and we’ll help you get the financing you need on your next car! I hope you have enjoyed our blog on How to Obtain a Car Loan.
If you are not after a traditional car loan, you can explore a cash flow loan with other one of our partners, Online Cash Flow Loans or apply here.
