Some lenders respond to applications in 15 minutes, others take an hour or a day. Checks can often be delivered the day following a loan approval. Some people feel the most important thing is the disclosure of the documents at home. Sometimes people are very cynical and cautious when it comes to buying and financing a car. They're not very trusting of dealers.
Many lenders also take applications over the phone.
As with online applications, customers are guaranteed a response in 15 minutes. The ease of the loan process has attracted a wide range of customers to the company. We see people 25 to 40 years old. It's really across the board. Growth expected While the number of financial institutions with online auto loan applications is still small, at least one consulting firm believes that will soon change.