How long are auto loan pre-approvals valid?

Lel · ‎05-13-2009

I'm thinking about buying a car, but I'm not sure when the car that I want is going to be available. I'm looking for a used Toyota Highlander Hybrid with some specific features, including a 3rd row seat and leather seats. These don't come up very often.

I'd like to get pre-approved for financing before working with the dealers. Does anyone know how long the pre-approvals are good for? It could take several weeks before the right car shows up on a lot.

Thanks!

Cleanmachine · ‎05-14-2009

Having a pre-approval is "NOT" a guarantee for approval.

Lel · ‎05-14-2009

Let me rephrase, then. If I apply for an auto loan prior to purchase AND get approved, how long does this approval typically last?

Anonymous · ‎05-14-2009

Most pre-aprovals seem to be good for about 30 days.

Lel · ‎05-14-2009

Just called PenFed - they said that the approval is good for 90 days. I should be able to find a car in that time.

marty56 · ‎05-14-2009

SSFCU is 60 days.

1/25/2021: FICO 850 EQ 848 TU 847 EX

MizzB · ‎05-19-2009

Cap 1 is 45 days and Roadloans is 30 days.

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