After finding the new Subaru that fits you, there are a few ways to make it yours. You can either lease, buy the vehicle outright by paying in full, or finance. If you opt for the latter, you’ll have to take out a loan.
Here’s how that works.
How Do I Apply for a Car Loan?
Pre-Approved Loans
A pre-approved loan may be a good choice if you want to know your limits. If you have weaker credit, a pre-approved loan will let you know right away what kind of car you should look for and what range you can afford. It’s also a great way to get in and out of the dealership quickly.
Apply for Financing Through the Dealership
Every dealership will have lenders they work with, and we’re no exception. If you’re willing to wait, we’ll find you the best rate for your specific circumstances. Dealerships want to find you a great deal, which means they may throw in a few extra discounts to reach your target monthly payment.
Some makes, such as Subaru, may offer manufacturer financing through a specific lender. The Subaru Motors Finance program works directly with Chase Bank, and all financing will come through them. It’s likely the quickest way to finding financing for your vehicle. This program offers discounts for being a recent college graduate or an active military member. It also has a certified pre-owned program, as well as a certified trade-in program.
Whether you apply for a loan through the bank or dealership, the information you need to be approved is relatively the same. It typically includes:
- Contact information
- Income
- Employment
- Banking details
- A credit report
Once you submit the application, there will be a waiting period for approval.
Get Approved for a Subaru in Longmont, CO
The associates in the Valley Subaru of Longmont Finance Center are here to help. Getting started is as easy as filling out our online credit application. If you have questions, feel free to contact us at our dealership in Longmont, Colorado.