Applying for used car loans online is easy, especially now that post-recession credit is widely available to prime and sub-prime borrowers. Nearly all financial institutions providing loans for car purchases offer access to online used car loans through their websites.
Step 1: Know Your Credit Rating
Before you apply for a used car loan online, it is a good idea to know what your credit score is. The three main credit-reporting agencies in the U.S. are Experian, Equifax, and Trans Union, and by law they must supply one free credit report each year. To obtain your copies of your free credit reports, visit the official AnnualCreditReport.com website, which allows consumers to request all three copies from a single location.