Question: How Does Pre Approved Auto Loan Work?

Question: How Does Pre Approved Auto Loan Work?

Conditional approval is given before preapproval on your car loan.

Based on the information you give the lender, you’re given a maximum loan amount.

You’ll have to wait to get information like loan term and interest rates.

Unconditional approval is when the lender approves you for the loan to buy a specific car.

Photo in the article by “Naval History and Heritage Command – Navy.mil” https://www.history.navy.mil/research/library/online-reading-room/title-list-alphabetically/p/pearl-harbor-why-how.html