Auto loan pre-approval demonstrates to dealers that you're a serious car shopper and helps you avoid overpaying on financing, ...

An auto loan preapproval is when a lender declares they intend to offer a loan for a certain amount to help you purchase a car. Here's how to get a preapproval letter for a car loan.

How long do you have before a preapproval letter on a car loan will expire? Each lender has its own expiration on preapproval letters, which may range from 30 to 60 days, on average.

The pre-approval letter will typically have the amount you qualify for, the interest rate, the repayment time period, and other loan terms. Many letters will have an expiration date on when the ...

Plus, in competitive markets, a pre-approval letter can make your offer more attractive to sellers. It can also streamline the buying process, since being pre-approved can speed up the final loan ...