How Long Does It Take to Get a Car Loan?

Posted: Friday, November 30th, 2018

You’ve gathered the required information about your personal finances, as well as info on the car you are interested in, and are ready to apply for a car loan. One of the first things you’ll want to know now is how long will it take for your loan to be approved. The experts at Green Light Auto Credit can help you understand the loan process so that you can plan accordingly.

Applying for an Auto Loan

The length of time between applying for a loan and being approved depends on a few key factors:

  • Application Process: Since most lenders allow you to complete an online loan application, it should only take you 10 to 15 minutes to submit the application for approval.
  • Response Time: Many lenders provide an instant response to an online loan application, however this is most often just a conditional approval.
  • Final Approval: This will vary based upon the lender you are working with, but generally it takes 24-72 hours, or one to six days to get the final, unconditional approval.
  • When Will You Receive the Funds?: Once you have received the final approval, it will usually take between one to three days to receive the funds. It’s a good idea to confirm the turnaround time with your lender.


Green Light Auto Credit two new car owners with their new sedanIf you have yet to decide on the specific car you want to buy, getting pre-approved is the way to go. This means that you have received approval for a set loan amount which can be used for the purchase. It’s possible you’ll be asked to submit additional documentation, so be sure to talk to your loan consultant about the requirements for pre-approval. Your pre-approved loan offer should be valid for a period of 30 to 120 days.

Car Loan Approval Checklist

  • Required Documents: Find out ahead of time what documentation is required in order to avoid potential snags in the process.
  • Cut-Off Times: Most lenders that offer same-day approval usually have cut-off times, so be sure to confirm the cut-off time, and plan on applying early in the day to avoid unnecessary delays.
  • Vehicle Information: If you have chosen the car that you want to buy you’ll need to be sure that you have all of the required information regarding the vehicle. This is especially important if you are planning on buying a used vehicle.

Green Light Auto Credit Makes It Easy

Here at Green Light Auto Credit, we’ll work with you to make the car loan process as simple and hassle free as possible. Whether you have a bad credit score, are living on a fixed income, or have experienced bankruptcy, we can still help you to get the car you need. Apply for a loan online from us today and get pre-approved in under 60 seconds. If you have any questions, or would like more information, please feel free to contact us online, or give us a call at (800) 200-5551.

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