A Short Guide To Nissan Credit Application Process!
A Short Guide To Nissan Credit Application Process!
Posted on April 9, 2024
Buying a new car is one of the most significant investments you’ll ever make, and most people don't have spare capital to pay in cash. However, there are many different ways to finance your car, including auto loans. This guide explains Nissan’s car-financing process so you can decide if it is right for you.
Where to Get Auto Financing
Traditionally, car loans have been obtained through banks or a dealership, depending on your preference. These days, thanks to improved technology, other options are more convenient and reliable. Here are the three available financing methods:
Bank Lending
This process involves filling out an application form and meeting with a bank manager to discuss the loan terms. By looking at various factors, including savings, income, and credit score, bank officials will decide the amount you qualify for. Bank loans usually have several hurdles that might frustrate the whole process. Plus, if your credit score is low, there is a high chance that the application will be declined.
Dealership Financing
Financing through a dealership usually begins when you pick the car you want from their inventory. They will then send the application to an in-house financing division to give you options from multiple external lenders, hoping to get you approved. Like bank lending, low credit scores increase the chance of being declined.
Online Pre-Approval
Several financial companies in Canada allow you to be pre-approved for a car loan online before you start looking for a vehicle. This process gives you a better idea of the options available so you can shop with confidence. You will then be directed to a local dealership, where you can pick up the car and drive away.
Application Process
Ready to drive your new vehicle? Follow this simple credit application process to help you get started with car financing.
Choose Your Nissan
The Nissan lineup offers something for everything, whether you are looking for a family car or an off-road beast. These vehicles range from crossovers and SUVs to electric vehicles, sedans, sports cars and midsize pickup trucks. After choosing the right vehicle, use the estimator tools to calculate its value.
Submit Your Application
Nissan’s credit application requires you to share personal and financial information. The process takes about 10 minutes, and you must provide a valid driver’s licence, housing and mortgage details, and income information.
Meet Your Dealer
Once approved, you can wait for the local dealership to contact you or you can share the reference information sent to you via email. Either way, they will get you to the finish line and into the chosen Nissan model.
Contact Us Today!
Nissan auto loans offer convenient options to help you purchase a new vehicle. Contact Myers Ottawa Nissan in Ottawa, ON, to explore our inventory and get more information about financing options.
Apply For Nissan Credit!