An auto loan prequalification is a soft inquiry on your credit report, meaning it doesn’t affect your credit score. It typically involves answering a few basic questions about your income, employment, and debt. Based on this information, the lender gives you an estimated range of loan amounts and personalized interest rates you might qualify for your car loan.
An auto loan preapproval is a more in-depth process that requires you to submit a formal application and provide documentation of your income, employment and assets. The lender will then verify your information and pull a hard credit inquiry, which can temporarily lower your credit score. Once they’ve reviewed everything, they’ll issue a preapproval letter that states the exact car loan amount you’re qualified for and the interest rate you’ll be charged.
You can get prequalified by filling out a simple form here.
The form requires you to submit the following information:
After submitting the form, you’ll be able to see your personlized rate from our network of lenders.
Your prequalification status expires after 30 days of submitting the prequalification application. After that you can re-submit the application.
We have sent you an email with your offers. Make sure you have checked your spam folder. You can also go to your profile on repossessedcarsforsale.shop.
Contact the dealer to make sure that the car is available and schedule a test drive. Take your offer to the dealer and feel more confident.
Yes, you can use your prequalified offer to purchase the car.
You can use your prequalified offer to find a similar car at the dealer or contact another dealer.
You can find the list of participating lenders on Repossessedcarsforsale.shop .
In-network lenders can finance most cars listed on Cars.com. Check with the lender for specific details.
You can see the lender details in your prequalification status.